Could Freds Incorporated (NASDAQ:FRED) Change Direction After Less Shorts?

December 12, 2017 - By Henry Gaston

 Could Freds Incorporated (NASDAQ:FRED) Change Direction After Less Shorts?

Investors sentiment decreased to 0.96 in 2017 Q2. Its down 0.67, from 1.63 in 2017Q1. It dropped, as 27 investors sold Fred's, Inc. shares while 29 reduced holdings. 14 funds opened positions while 40 raised stakes. 37.37 million shares or 2.04% less from 38.15 million shares in 2017Q1 were reported.
National Bank Of Montreal Can owns 13,800 shares. Interest Group has invested 0% in Fred's, Inc. (NASDAQ:FRED). Greenlight Incorporated has 1.50M shares. Swiss Fincl Bank invested in 60,600 shares or 0% of the stock. Goldman Sachs accumulated 0% or 451,156 shares. State Of Alaska Department Of Revenue has invested 0% of its portfolio in Fred's, Inc. (NASDAQ:FRED). Great West Life Assurance Can accumulated 52,466 shares or 0% of the stock. Moreover, Riverhead Management Limited Liability Company has 0% invested in Fred's, Inc. (NASDAQ:FRED). 2,209 were reported by Jpmorgan Chase. Legal General Group Pcl reported 64,573 shares stake. Ny State Teachers Retirement Sys invested in 0% or 85,806 shares. State Street Corporation accumulated 1.27 million shares. Citigroup Inc holds 0% or 2,046 shares in its portfolio. Zurcher Kantonalbank (Zurich Cantonalbank) has 492 shares for 0% of their portfolio. Principal Gru reported 0% in Fred's, Inc. (NASDAQ:FRED).

The stock of Freds Incorporated (NASDAQ:FRED) registered a decrease of 7.64% in short interest. FRED’s total short interest was 17.32M shares in December as published by FINRA. Its down 7.64% from 18.75 million shares, reported previously. With 726,300 shares average volume, it will take short sellers 24 days to cover their FRED’s short positions. The short interest to Freds Incorporated’s float is 65.92%.

The stock decreased 1.01% or $0.04 during the last trading session, reaching $3.92. About 220,186 shares traded. Fred's, Inc. (NASDAQ:FRED) has risen 3.21% since December 12, 2016 and is uptrending. It has underperformed by 13.49% the S&P500.

Fred's, Inc., together with its subsidiaries, sells general merchandise through its retail discount stores and full service pharmacies. The company has market cap of $149.27 million. The company, through its stores, offers household cleaning supplies, health products, beauty and personal care products, disposable diapers, pet foods, paper products, various food and beverage products, and pharmaceuticals to low, middle, and fixed income families in small- to medium- sized towns. It currently has negative earnings. It also sells general merchandise to franchised Fred's stores.

Fred's, Inc. (NASDAQ:FRED) Ratings Coverage

Among 6 analysts covering Fred’s (NASDAQ:FRED), 1 have Buy rating, 1 Sell and 4 Hold. Therefore 17% are positive. Fred’s had 16 analyst reports since August 7, 2015 according to SRatingsIntel. Sidoti upgraded Fred's, Inc. (NASDAQ:FRED) on Friday, October 7 to “Buy” rating. The stock of Fred's, Inc. (NASDAQ:FRED) earned “Neutral” rating by M Partners on Monday, August 31. As per Wednesday, November 2, the company rating was maintained by Deutsche Bank. Deutsche Bank maintained the shares of FRED in report on Thursday, June 29 with “Hold” rating. The firm has “Hold” rating given on Tuesday, May 31 by Deutsche Bank. The firm has “Buy” rating given on Tuesday, February 7 by Sidoti. The stock of Fred's, Inc. (NASDAQ:FRED) has “Hold” rating given on Thursday, August 24 by Loop Capital Markets. As per Friday, August 7, the company rating was downgraded by Stephens. As per Monday, August 10, the company rating was downgraded by Stephens. The firm has “Neutral” rating by Sidoti given on Tuesday, December 20.

More notable recent Fred's, Inc. (NASDAQ:FRED) news were published by: Businesswire.com which released: “Fred’s Inc. Announces the Cancellation of the Dividend, an Update to the Share …” on December 06, 2017, also Reuters.com with their article: “BRIEF-Fred’s Announces Cancellation Of Dividend, Review Of Alternatives For …” published on December 06, 2017, Seekingalpha.com published: “Fred’s -12% after soft results, axed dividend” on December 06, 2017. More interesting news about Fred's, Inc. (NASDAQ:FRED) were released by: Businesswire.com and their article: “Fred’s Inc. Reports Third Quarter 2017 Results” published on December 06, 2017 as well as Bizjournals.com‘s news article titled: “Fred’s reports net loss of $52M, cancels dividend” with publication date: December 06, 2017.

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