Shares last traded at $35.15 which is significantly higher than $27.95, the 50 day moving average and which is impressively higher than the 200 day moving average of $19.61. The 50 day moving average went up $7.20 or +25.75% and the 200 day average was up $15.54. Trading was heavy with 3,291K shares changing hands by the end of trading on Tuesday. Shares saw a steep increase in trading volume of 3,698.75% over the normal average daily volume.
Investors are more bearish on shares of the company lately if you take a look at the increase in short interest. The firm had a rise in short interest from September 15, 2017 to September 29, 2017 of 7.44%. Short interest grew 158,350 over that period. With short interest at 2,286,634 and short average daily volume at 938,323, days to cover is 2.0 and the percentage of shorted shares was 0.09% on September 29.
There has been some selling insider activity on Overstock.com, Inc. (NASDAQ:OSTK) recently. President, Medici Jonathan E. Iii Johnson sold 1,500 shares at an average price of $22.10 on September 1st. That brings the President, Medici’s holdings to $1,537,983 per an SEC filing yesterday. SVP, Technology & People Care Carter Paul Lee disclosed the sale of 2,000 shares of OSTK stock. The shares were sold on August 9th for an average price of $18.51. The SVP, Technology & People Care now owns $165,813 of the stock according to the SEC filing.
Jonathan E. Iii Johnson, President, Medici reported the sale of 500 shares of (OSTK). The shares were purchased at an average price of $17.00. Johnson now owns $1,310,564 of the stock per the Form 4 SEC filing.
Here are a few substantial investment firms who have updated their positions. Eqis Capital Management, Inc. expanded its investment by buying 171 shares an increase of 0.8% in the quarter. Eqis Capital Management, Inc. owns 22,060 shares with a value of $655,000. The total value of its holdings increased 83.5%. As of quarter end Acadian Asset Management LLC had sold a total of 150,737 shares trimming its stake by 60.3%. The value of the total investment in Overstock.com, Inc. decreased from $4,073,000 to $2,944,000 a change of 27.7% quarter over quarter.
As of the end of the quarter Cutler Group LP had acquired 6,900 shares growing its position 3,450.0%. The value in dollars went from $0 to $14,000 increasing inf% for the reporting period. Balter Liquid Alternatives, LLC grew its stake by buying 10,376 shares an increase of 95.5% as of 09/30/2017. Balter Liquid Alternatives, LLC currently owns 21,246 shares valued at $631,000. The value of the position overall is up by 256.5%.
In the latest earnings report the EPS was $-0.52 and is estimated to be $-0.48 for the current year with 25,000,000 shares now outstanding. Next quarter’s EPS is expected be $-0.09 with next year’s EPS projected to be $-0.40.
Overstock.com, Inc., launched on February 27, 2002, is an online retailer and incubator of blockchain technology. Through its online retail business, the Company offers a range of price-competitive brand name, non-brand name and closeout products, including furniture, home decor, bedding and bath, housewares, jewelry and watches, apparel and designer accessories, health and beauty products, electronics and computers, and sporting goods. It operates Retail and Medici businesses. Its Retail business consists of its Direct and Partner segments. Its Other segment consists of Medici. The Company also sells various books, magazines, compact discs (CDs), digital versatile discs (DVDs) and video games. The Company sells these products and services through its Internet Websites located at www.overstock.com, www.o.co and www.o.biz..