Signet Jewelers Limited (NYSE:SIG) shares traded higher on Thursday after posting strong fourth-quarter results and raising its dividend.
The stock surged more than 13% during the session. Heavy trading supported the move. High short interest, above 26% of the float, likely added buying pressure.
Trading volume reached about 1.54 million shares. This was well above the 100-day average of 870,236 shares. As a result, activity remained elevated.
The company has a short float of 5.51 million shares. This represents 26.72% of its tradable float. Therefore, bearish positioning remains very high.
Quarterly Results
Signet reported solid demand across key categories. However, margins showed some pressure.
Adjusted earnings per share came in at $6.25. This beat the analyst estimate of $6.11. Revenue reached $2.345 billion, slightly above expectations of $2.342 billion.
Average unit retail …