Straight Path Communications Inc (STRP) Short Interest Update
Straight Path Communications Inc (NYSEAMERICAN:STRP) was the target of a significant increase in short interest in October. As of October 31st, there was short interest totalling 1,094,579 shares, an increase of 2.4% from the October 13th total of 1,068,535 shares. Based on an average daily trading volume, of 78,611 shares, the days-to-cover ratio is currently 13.9 days. Currently, 16.1% of the shares of the stock are sold short.
In other news, insider Zhouyue Pi sold 16,978 shares of the firm’s stock in a transaction on Wednesday, October 18th. The stock was sold at an average price of $181.43, for a total value of $3,080,318.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Fred S. Zeidman sold 3,000 shares of the firm’s stock in a transaction on Friday, October 13th. The shares were sold at an average price of $181.47, for a total value of $544,410.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 43,785 shares of company stock valued at $7,944,598.
Institutional investors have recently bought and sold shares of the stock. California State Teachers Retirement System increased its position in Straight Path Communications by 3.1% during the 3rd quarter. California State Teachers Retirement System now owns 15,686 shares of the technology company’s stock worth $2,834,000 after purchasing an additional 469 shares in the last quarter. Cowen Inc. increased its position in Straight Path Communications by 319.9% during the 3rd quarter. Cowen Inc. now owns 183,437 shares of the technology company’s stock worth $33,142,000 after purchasing an additional 139,755 shares in the last quarter. Finally, Alpine Associates Management Inc. increased its position in Straight Path Communications by 133.7% during the 3rd quarter. Alpine Associates Management Inc. now owns 261,700 shares of the technology company’s stock worth $47,282,000 after purchasing an additional 149,716 shares in the last quarter.
Separately, BidaskClub upgraded Straight Path Communications from a “strong sell” rating to a “sell” rating in a research report on Tuesday, September 26th.
Straight Path Communications (NYSEAMERICAN STRP) opened at $181.59 on Friday. Straight Path Communications has a 52-week low of $22.60 and a 52-week high of $235.88.
Straight Path Communications Company Profile
Straight Path Communications Inc is a communications asset company. The Company owns Straight Path Spectrum, Inc (Straight Path Spectrum), Straight Path Ventures, LLC (Straight Path Ventures), and Straight Path IP Group, Inc (Straight Path IP Group). The Company’s segments include Straight Path Spectrum, Straight Path Ventures and Straight Path IP Group.
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