Alere Incorporated (NYSE:ALR) Shorted Shares Decreased By 15.5%


The stock of Alere Incorporated (NYSE:ALR) registered a decrease of 15.5% in short interest. ALR’s total short interest was 2.49M shares in September as published by FINRA. Its down 15.5% from 2.95M shares, reported previously. With 651,200 shares average volume, it will take short sellers 4 days to cover their ALR’s short positions. The short interest to Alere Incorporated’s float is 2.89%. The stock decreased 0.40% or $0.17 on September 13, hitting $42.82. About 550,059 shares traded hands. Alere Inc (NYSE:ALR) has declined 19.19% since February 8, 2016 and is downtrending. It has underperformed by 35.68% the S&P500.

Alere Inc. is a provider of health information through diagnostic tests. The company has a market cap of $3.77 billion. The Company’s divisions include professional diagnostics, consumer diagnostics, and corporate and other. It currently has negative earnings. The professional diagnostics segment includes an array of diagnostic test products and other in vitro diagnostic tests marketed to medical professionals and laboratories for detection of diseases and conditions within its areas of focus.

The institutional sentiment decreased to 0.89 in 2016 Q2. Its down 0.01, from 0.9 in 2016Q1. The ratio turned negative, as 28 funds sold all Alere Inc shares owned while 79 reduced positions. 24 funds bought stakes while 71 increased positions. They now own 73.65 million shares or 1.98% less from 75.14 million shares in 2016Q1.

Cheyne Capital Management (Uk) Llp holds 28.34% of its portfolio in Alere Inc for 844,656 shares. Twin Securities Inc. owns 1.37 million shares or 10.29% of their US portfolio. Moreover, Kellner Capital Llc has 7.51% invested in the company for 259,800 shares. The New York-based Tig Advisors Llc has invested 6.54% in the stock. Private Capital Management Llc, a Florida-based fund reported 849,998 shares.

Out of 7 analysts covering Alere (NYSE:ALR), 4 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 57% are positive. Alere has been the topic of 10 analyst reports since November 5, 2015 according to StockzIntelligence Inc. Canaccord Genuity upgraded the stock on July 15 to “Buy” rating.

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