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Technology Stocks : Looking for info on IMNT
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To: DDuncan who wrote (335)3/9/1998 10:40:00 AM
From: Rick Smith  Read Replies (1) of 484
 
Shorts, Longs, Institutions and Insiders.
I just went to my Bloomberg Machine and got some very interesting numbers. Much of the Institutional positions have been purchased in the past 5 months. These guys aren't sellers when a stock starts to run. They will let it run, especially if they like the fundamentals and see that they have been able to trap a large number of shorts
Let me do the math...
9.77 million shares outstanding - 5.67 million ( much of it recently purchased) institutional shares - 2.00 million insider shares = 2.1 million shares that are available to trade freely among individual shareholders.
1.97 million shares are short.
Doesn't seem like we give the shorts too much room to work if the good news continues to be reported. Oh, lets not forget that that the company has already confirmed high end of analyst estimates for the quarter. The earliest they've ever done this. Could be some analysts will be raising their numbers. Now that's got to hurt if your short.
It may take a little while longer to get over 30, but my guess from what I'm hearing and reading is that we are very close to catching fire. And with the numbers IMNT's posting and contracts they have, the Fundamentalists have to love this one as well as the TA types.
Good Luck to All. R..
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