Myers Industries Short Interest Ratio and Short Volume

Short interest is the volume of Myers Industries shares that have been sold short but have not yet been covered or closed out. As of March 31st, investors have sold 658,700 shares of MYE short.

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. Myers Industries currently has a short interest ratio of 4.0.

Myers Industries saw a increase in short interest in the month of March. As of March 31st, there was short interest totaling 658,700 shares, an increase of 5.0% from the previous total of 627,300 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.

0.00% of Myers Industries' shares are currently sold short. Here is how the short interest of companies in the industry of "plastics products, not elsewhere classified" compare to Myers Industries: Entegris, Inc. (1.44%), Newell Brands Inc. (1.86%), AptarGroup, Inc. (0.00%), Berry Global Group, Inc. (2.88%), The AZEK Company Inc. (1.25%), Armstrong World Industries, Inc. (2.67%), Tupperware Brands Co. (7.27%), Armstrong Flooring, Inc. (1.88%), Core Molding Technologies, Inc. (0.27%), and Deswell Industries, Inc. (0.09%).

As of the most recent reporting period, the following stocks had the largest short interest positions: Analog Devices, Inc. ($5.84 billion), Aon plc ($5.47 billion), Charter Communications, Inc. ($5.36 billion), ViacomCBS Inc. ($3.99 billion), Snap Inc. ($3.77 billion), Airbnb, Inc. ($2.90 billion), Peloton Interactive, Inc. ($2.43 billion), Discovery, Inc. ($2.38 billion), The Kroger Co. ($2.28 billion), and Expedia Group, Inc. ($2.18 billion). View all of the most shorted stocks.

Short selling MYE is an investing strategy that aims to generate trading profit from Myers Industries as its price is falling. Myers Industries' stock is trading down $0.20 today. To short Myers Industries 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 Myers Industries 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 Myers Industries 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 MYE, 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 MYE, twice per month. The most recent reporting period available is March, 31 2021.