Aegion Corporation (NASDAQ:AEGN) Shorts Decreased by 11.77% After Short Covering


The stock of Aegion Corporation (NASDAQ:AEGN) registered a decrease of 11.77% in short interest. AEGN’s total short interest was 685,300 shares in September as published by FINRA. Its down 11.77% from 776,700 shares, reported previously. With 217,500 shares average volume, it will take short sellers 3 days to cover their AEGN’s short positions. The short interest to Aegion Corporation’s float is 2.1%. About 94,740 shares traded hands. Aegion Corp (NASDAQ:AEGN) has risen 5.56% since February 8, 2016 and is uptrending. It has underperformed by 10.93% the S&P500.

Aegion Corporation is engaged in providing infrastructure protection and maintenance. The company has a market cap of $620.36 million. The Firm is engaged in providing technologies and services to protect against the corrosion of industrial pipelines, and rehabilitate and strengthen water, wastewater, energy and mining piping systems and buildings, bridges, tunnels and waterfront structures. It currently has negative earnings. It operates through three divisions: Infrastructure Solutions, Corrosion Protection and Energy Services.

The institutional sentiment decreased to 0.88 in Q2 2016. Its down 0.33, from 1.21 in 2016Q1. The ratio is negative, as 13 funds sold all Aegion Corp shares owned while 53 reduced positions. 11 funds bought stakes while 47 increased positions. They now own 29.08 million shares or 7.82% less from 31.55 million shares in 2016Q1.

First Wilshire Securities Management Inc holds 2.51% of its portfolio in Aegion Corp for 400,104 shares. Malaga Cove Capital Llc owns 137,529 shares or 2.4% of their US portfolio. Moreover, Thompson Rubinstein Investment Management Inc Or has 1.57% invested in the company for 207,288 shares. The Iowa-based Security National Bank Of Sioux City Iowa Ia has invested 1.41% in the stock. Security National Bank Of So Dak, a Iowa-based fund reported 43,782 shares.

Out of 2 analysts covering Aegion (NASDAQ:AEGN), 0 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 0 are positive. Aegion has been the topic of 4 analyst reports since January 5, 2016 according to StockzIntelligence Inc. Sidoti initiated the stock on June 27 with “Neutral” rating.

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