Covenant Transportation Group (CVTI) Short Interest Ratio & Short Volume

Short interest is the volume of Covenant Transportation Group shares that have been sold short but have not yet been covered or closed out. As of June 30th, investors have sold 465,400 shares of CVTI short. 3.97% of Covenant Transportation Group's shares are currently sold short. Learn More on Covenant Transportation 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. CVTI shares currently have a short interest ratio of 2.0. Learn More on Covenant Transportation 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. 3.97% of Covenant Transportation Group's floating shares are currently sold short.

Covenant Transportation Group saw a decrease in short interest in June. As of June 30th, there was short interest totaling 465,400 shares, a decrease of 4.5% from the previous total of 487,200 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 Transportation Group currently has issued a total of 17,087,000 shares. Some of Covenant Transportation 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 Transportation Group currently has a public float of 11,730,000 shares.

3.97% of Covenant Transportation Group's shares are currently sold short. Here is how the short interest of companies in the sector of "transportation" compare to Covenant Transportation Group: Heartland Express, Inc. (3.24%), Universal Logistics Holdings, Inc. (1.58%), Covenant Logistics Group, Inc. (0.77%), P.A.M. Transportation Services, Inc. (0.09%), Marten Transport, Ltd. (1.15%), Werner Enterprises, Inc. (4.56%), Controladora Vuela Compañía de Aviación, S.A.B. de C.V. (0.75%), Bristow Group Inc. (1.28%), Tsakos Energy Navigation Limited (0.82%), Global Ship Lease, Inc. (3.93%),

As of the most recent reporting period, the following stocks had the largest short interest positions: Match Group, Inc. ($4.49 billion), Wayfair Inc. ($3.21 billion), Tesla, Inc. ($3.01 billion), Morgan Stanley ($2.93 billion), The Charles Schwab Co. ($2.55 billion), Aon plc ($2.52 billion), The Clorox Company ($2.41 billion), Snap Inc. ($2.25 billion), Carnival Co. & plc ($2.06 billion), and Simon Property Group, Inc. ($1.88 billion). View all of the most shorted stocks.

Short selling CVTI is an investing strategy that aims to generate trading profit from Covenant Transportation Group as its price is falling. CVTI shares are trading up $0.55 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 Transportation Group occurs when it has a large amount of short interest and its stock increases in price. This forces short sellers to cover their short interest positions by buying actual shares of CVTI, 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 CVTI, twice per month. The most recent reporting period available is June, 30 2020.