Deckers (DECK) Short Interest Still Robust into Q3 Results
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Deckers Outdoor Corp (NASDAQ: DECK) shares are up well Wednesday morning, heading into the shoe retailer's third-quarter earnings report, which is expected out on October 25th. The stock is up over 2 percent in early trading.
Traders may want to note the high short-interest that Deckers carries. At last check, about 37 percent to 38 percent of Deckers float is being held short. Given the steep drop below $40 and recent resistance at $38.50, that area might be a key play for shorts to cover their position if shares make a strong move higher.
One thing to note is the dire estimates. Deckers is expected to report third-quarter EPS of $1.07. Notably, the quarter ended in September is usually one of the strongest for Deckers given back-to-school sales of UGG footwear. However, many analysts have piped-up recently that UGG is past its prime, lowering estimates in the process.
Last year, Deckers had EPS of $1.59 in the same period.
Still, even a slight beat might produce surprising results, given that Deckers' shares were trading well above $100 in the same period last year. For more on the recent analyst comments, click here.
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Traders may want to note the high short-interest that Deckers carries. At last check, about 37 percent to 38 percent of Deckers float is being held short. Given the steep drop below $40 and recent resistance at $38.50, that area might be a key play for shorts to cover their position if shares make a strong move higher.
One thing to note is the dire estimates. Deckers is expected to report third-quarter EPS of $1.07. Notably, the quarter ended in September is usually one of the strongest for Deckers given back-to-school sales of UGG footwear. However, many analysts have piped-up recently that UGG is past its prime, lowering estimates in the process.
Last year, Deckers had EPS of $1.59 in the same period.
Still, even a slight beat might produce surprising results, given that Deckers' shares were trading well above $100 in the same period last year. For more on the recent analyst comments, click here.
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