What Next for Transalta Corporation Ordinary Shares (NYSE:TAC) Stock After Increase in Shorted Shares?

September 30, 2018 - By Palma Niemeyer

TransAlta Corporation (NYSE:TAC) Logo

The stock of Transalta Corporation Ordinary Shares (NYSE:TAC) registered an increase of 2.08% in short interest. TAC’s total short interest was 806,000 shares in September as published by FINRA. Its up 2.08% from 789,600 shares, reported previously. With 18,400 shares average volume, it will take short sellers 44 days to cover their TAC’s short positions. The short interest to Transalta Corporation Ordinary Shares’s float is 0.28%.

The stock increased 0.51% or $0.0284 during the last trading session, reaching $5.6284. About 12,055 shares traded. TransAlta Corporation (NYSE:TAC) has declined 9.45% since September 30, 2017 and is downtrending. It has underperformed by 25.07% the S&P500.

TransAlta Corporation operates as non-regulated electricity generation and energy marketing firm in Canada, the United States, and Western Australia. The company has market cap of $1.62 billion. The firm operates through eight divisions: Canadian Coal, U.S. It currently has negative earnings. Coal, Canadian Gas, Australian Gas, Wind and Solar, Hydro, Energy Marketing, and Corporate.

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