Like many holders I have been trying to understand markets...

Like many holders I have been trying to understand markets reaction to this stock. There have been some great posts on this forum providing useful insights into this sector and the company, but share price activity such as today's on no news or announcement remains a mystery. As at time of posting trading volume was already three times annual average and share price had fallen ~6%.

I don't have the answer/s but on reviewing today's course of sales I am of the view that institutions are at play. There are several instances of large numbers of individual trades at the same time and same price (i.e. 10:02:12 AM 127 trades each at $9.30 totalling $786,891). There have been no substantial Holder notices or insider trading activity for three months, the last being State Street, known for their trading in securities to secure loans for shorting. Latest short positions do not provide any answers as these have been declining:



When looking at the registry all of the top 20 shareholders (except Vanguard) have less than 5% interest, so we will not know of any changes unless the 5% benchmark is breached:



Current consensus of 12 analysts is Outperform with an average target price of $12.97, however there is a wide spread (High $18.40 Low $8.72).
Half of these analysts downgraded their estimates following the last results announcement. Earnings are forecast to decline by an average of 2.1% per year for the next three years:



I bought in after the last results announcement and have been adding on the way down. Have changed my sentiment as it is unclear to me where we are headed.