What’s Propelling Rimini Street Inc (NASDAQ:RMNI) After Lower Shorts Reported?

August 12, 2018 - By Robert Crowder

The stock of Rimini Street Inc (NASDAQ:RMNI) registered a decrease of 20.98% in short interest. RMNI’s total short interest was 33,900 shares in August as published by FINRA. Its down 20.98% from 42,900 shares, reported previously. With 5,900 shares average volume, it will take short sellers 6 days to cover their RMNI’s short positions. The short interest to Rimini Street Inc’s float is 0.36%.

The stock decreased 14.10% or $1.18 during the last trading session, reaching $7.19. About 215,203 shares traded or 169.26% up from the average. Rimini Street, Inc. (NASDAQ:RMNI) has declined 42.48% since August 12, 2017 and is downtrending. It has underperformed by 55.05% the S&P500.

Rimini Street, Inc. provides enterprise software support services. The company has market cap of $452.26 million. It offers enterprise software support services for Siebel, PeopleSoft, JD Edwards, Oracle E-Business Suite, Oracle Database, Hyperion, Oracle Retail, Oracle Fusion Middleware, SAP, and BusinessObjects software. It currently has negative earnings. The firm provides support services program features, such as product support, security support, risk avoidance, technology support, innovation and roadmap, account management, and onboarding and archiving services, as well as global tax, legal, and regulatory update services.

More notable recent Rimini Street, Inc. (NASDAQ:RMNI) news were published by: Seekingalpha.com which released: “Rimini Street -14.9% on Q2 with downside rev guide, new equity financing” on August 10, 2018, also Seekingalpha.com with their article: “Rimini Street’s (RMNI) CEO Seth Ravin on Q2 2018 Results – Earnings Call Transcript” published on August 11, 2018, Businesswire.com published: “Rimini Street Completes $140 Million Refinancing” on July 19, 2018. More interesting news about Rimini Street, Inc. (NASDAQ:RMNI) were released by: Benzinga.com and their article: “60 Stocks Moving In Friday’s Mid-Day Session” published on August 10, 2018 as well as Benzinga.com‘s news article titled: “66 Biggest Movers From Yesterday” with publication date: August 02, 2018.

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