Covenant Logistics Group (CVLG) Short Interest Ratio & Short Volume

Short interest is the volume of Covenant Logistics Group shares that have been sold short but have not yet been covered or closed out. As of March 31st, traders have sold 70,200 shares of CVLG short. 0.92% of Covenant Logistics Group's shares are currently sold short. Learn More on Covenant Logistics Group's current short interest.

The short interest ratio, also known as the "days to cover ratio", is calculated by dividing the number of shares of a stock sold short divided by its average trading volume. A short interest ratio ranging between 1 and 4 generally indicates strong positive sentiment about a stock and a lack of short sellers. A short interest ratio of 10 or greater indicates strong pessimism about a stock. CVLG shares currently have a short interest ratio of 1.0. Learn More on Covenant Logistics Group's short interest ratio.

Companies that have a short interest as a percentage of float below 10% indicates positive investor sentiment and few short sellers. Stocks with a short interest percentage above 10% is considered high, suggesting some investors are pessimistic about the stock. Companies with a short interest percentage of 20% or more indicates widespread negative sentiment. 0.92% of Covenant Logistics Group's floating shares are currently sold short.

Covenant Logistics Group saw a decline in short interest in the month of March. As of March 31st, there was short interest totaling 70,200 shares, a decline of 23.9% from the previous total of 92,200 shares. Changes in short volume can be used to identify positive and negative investor sentiment. Investors that short sell a stock are betting that its price will decline in the future. An increase in short sale volume suggests bearish (negative) sentiment among investors. A decrease on short sale volume suggests bullish (positive) sentiment.

Covenant Logistics Group currently has issued a total of 13,070,000 shares. Some of Covenant Logistics Group's outstanding shares are available for trading, while others are subject to various restrictions. The public float, also referred to as floating shares or "the float", are shares that publicly owned, unrestricted and available to trade on the open market. Covenant Logistics Group currently has a public float of 7,600,000 shares.

0.92% of Covenant Logistics Group's shares are currently sold short. Here is how the short interest of companies in the sector of "transportation" compare to Covenant Logistics Group: Heartland Express, Inc. (3.46%), P.A.M. Transportation Services, Inc. (0.10%), Universal Logistics Holdings, Inc. (1.69%), Marten Transport, Ltd. (1.09%), Werner Enterprises, Inc. (4.89%), Safe Bulkers, Inc. (4.07%), Forward Air Co. (15.57%), Teekay Co. (0.74%), Ardmore Shipping Co. (2.42%), Hawaiian Holdings, Inc. (12.07%),

As of the most recent reporting period, the following stocks had the largest short interest positions: TC Energy Co. ($4.49 billion), T-Mobile US, Inc. ($3.94 billion), General Motors ($3.34 billion), Charter Communications, Inc. ($3.32 billion), Occidental Petroleum Co. ($3.21 billion), Super Micro Computer, Inc. ($3.13 billion), Coinbase Global, Inc. ($3.08 billion), Moderna, Inc. ($2.28 billion), Tractor Supply ($2.24 billion), and Royal Caribbean Cruises Ltd. ($2.14 billion). View all of the most shorted stocks.

Short selling CVLG is an investing strategy that aims to generate trading profit from Covenant Logistics Group as its price is falling. CVLG shares are trading down $0.06 today. To short a stock, an investor borrows shares, sells them and buys the shares back on the public market later to return it to the lender. Short sellers are betting that a stock will decline in price. If the stock does drop after selling, the short seller buys it back at a lower price and returns it to the lender. The difference between the sell price and the buy price is the trader's profit.

A short squeeze for Covenant Logistics Group occurs when it has a large amount of short interest and its stock appreciates in price. This forces short sellers to cover their short interest positions by buying actual shares of CVLG, which in turn drives the price of the stock up even further.

Short interest is typically published by a stock exchange once per month. However, NASDAQ publishes a report for U.S. stocks, including CVLG, twice per month. The most recent reporting period available is March, 31 2024.