Traders Ease Shorts Into Netflix (NFLX) Q1 Results; Revs May Surpass $1B for First Time

Netflix (Nasdaq: NFLX) shares are up notably on the session into Q1 results, which are expected after the market closes today.

The stock is making the move following an upgrade at B. Riley earlier, while MKM had issued a few positive comments earlier.

The Street is currently modeling EPS of $0.10 with revs of $1.02 billion, versus a loss of $0.08 per share and revs of $870 million reported in the same period last year.

Through the end of March, short interest was 7.49 million shares, or 13.7 percent of float. The number is down 11.5 percent from the middle of March.

Money flow is about flat, with an uptick seeing about $7 million more versus a move lower.

Over the last few months, Netflix had been stuck around the $190 level, but the stock is seeing some support at $160 today.

It also appears that the 20-day SMA crossed and moved below the 50--day SMA, which may hint at a bit more near-term downside.

Netflix hasn't missed topping consensus views in about 10 quarters, though the stock is down 39 percent since July 2011. Shares are up about 5.9 percent Monday afternoon.

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