Westaim Corp. (OTCMKTS:WEDXF) Short Interest Up 62.8% in August

Key Points

• Short interest in Westaim Corp. (OTCMKTS:WEDXF) increased by 62.8% in August, reaching a total of 14,000 shares.
• The company's latest earnings report showed a revenue of $10.50 million for the quarter, significantly surpassing the consensus estimate of $1.46 million.
• Westaim's stock price opened at $20.40, with a one-year range between $16.62 and $25.98.

Westaim Corp. (OTCMKTS:WEDXF - Get Free Report) was the target of a large growth in short interest in the month of August. As of August 15th, there was short interest totaling 14,000 shares, a growth of 62.8% from the July 31st total of 8,600 shares. Based on an average trading volume of 6,800 shares, the days-to-cover ratio is presently 2.1 days. Based on an average trading volume of 6,800 shares, the days-to-cover ratio is presently 2.1 days.

Westaim Trading Down 2.1%

Shares of OTCMKTS:WEDXF traded down $0.44 on Thursday, reaching $20.44. The company had a trading volume of 810 shares, compared to its average volume of 2,589. Westaim has a 52-week low of $17.12 and a 52-week high of $25.98. The firm's 50 day simple moving average is $21.33 and its 200-day simple moving average is $22.05. The firm has a market capitalization of $685.97 million, a PE ratio of -14.60 and a beta of 0.19.

Westaim (OTCMKTS:WEDXF - Get Free Report) last announced its quarterly earnings results on Thursday, August 21st. The company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.17) by $0.16. Westaim had a negative return on equity of 6.03% and a negative net margin of 118.02%.The business had revenue of $10.50 million for the quarter, compared to the consensus estimate of $1.46 million.

Westaim Company Profile

The Westaim Corporation is a private equity firm specializing in direct and indirect investments through acquisitions, joint ventures, secondary investments both direct and indirect, fund of fund investments, and other arrangements. For direct investments, the firm invests in early venture, mid venture, late venture, middle market, later stage, mature, emerging growth, PIPEs, and buyout transactions.