Short Interest of Rexnord Corp Drops by 13.6%
Resource from: Stafford Daily Likes:172
Jan 21,2015
Rexnord Corp (NYSE:RXN) encountered a drop of 13.6% or -441,315 shares in the short positions. The number dropped from 3,245,521 on December 15,2014 to 2,804,206 on December 31,2014. The final interest is 2.8% of the floated stock. The days to cover figure of 7 can be arrived using the average daily exchange of 379,464 shares.
Shares of Rexnord Corp (NYSE:RXN) witnessed hefty buying and the price closed up 2.16% at $25.56. There was no let up in intensity from the bulls and the price headed north amid a strong volume of 695,284 shares. The opening commenced on a calm note with the first trade at $24.85 but the buying pressure soon took the shares to an intraday high of $25.63. However, the traders and investors booked some profits at the higher levels. Rexnord Corp (NYSE:RXN) has a 52-week high of $30.939 and a 52-week low of $24.75. The company has a market cap of $2,599 million.
Rexnord Corporation (Rexnord) is a multi-platform industrial company. The Company comprises of two platforms, Process & Motion Control and Water Management. Rexnords Process & Motion Control product portfolio includes gears, couplings, industrial bearings, aerospace bearings and seals, FlatTop chain, engineered chain and conveying equipment, and are marketed and sold globally under brands, including Rexnord, Rex, Falk and Link-Belt. Its Water Management platform operates in the commercial construction market for water management products and the municipal water and wastewater treatment markets. Its Water Management product portfolio includes drainage products, flush valves and faucet products, backflow prevention pressure release valves, PEX piping and engineered valves and gates for the water and wastewater treatment markets. In April 2014, the Company acquired Green Turtle Technologies Ltd., Green Turtle Americas Ltd. and Filamat Composites
(Stafford Daily)
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