Welcome to this week’s installment of “The Short Interest Report" - The Fly's weekly recap of short interest trends among some of the most widely followed high-short-float stocks. Using the data from our partner Ortex.com, which utilizes the latest information from stock lenders to estimate short interest changes for thousands of publicly traded companies, this version will screen for some of biggest changes in short interest as a percentage of free float and days-to-cover ratios. This report will also continue to layer the short interest data on some of the more volatile and heavier-traded names of the week. Based on the availability of data from Ortex, the report will continue to track the trading period that covers prior Friday through Thursday of this week.
As a basis of comparison, the S&P 500 index was down 0.2%, the Russell 2000 index was up 0.3%, the Russell 1000 Growth ETF (IWF) was down 0.8%, and the Russell 1000 Value ETF (IWD) was up 0.4% in the period range.
AMC ENTERTAINMENT SHORT INTEREST LITTLE CHANGED DESPITE VOLATILITY
Shares of AMC Entertainment (AMC) virtually doubled for the second consecutive week, rising 93.6% in the five-day trading period covered, and yet the estimated short interest levels in the name remained little changed despite the mission of the loyal WallStreetBets followers to “punish” the short-sellers. Short interest as a percentage of free float as of Thursday-close was at 17.5%, up less than one percentage point from last Thursday, while the days-to-cover ratio in the name fell about 29% to 1.04.
ASPIRATIONAL CONSUMER LIFESTYLE SHORT INTEREST AT ALL-TIME HIGH
Estimated short interest in Singapore-based Aspirational Consumer Lifestyle (ASPL) – a newcomer to the Ortex-driven screen – started to climb in mid-May and after plateauing for the better part of this week and then spiked above the 70% level yesterday. For the week, short positioning in the stock was up about eight percentage points while days-to-cover ratio increased 24% to 5.3. Shares of Aspirational Consumer Lifestyle were down 0.2% in the five-day trading period covered.
NETSTREIT SHORT INTEREST MORE THAN DOUBLES TO 68%
Estimated short interest in Netstreit Corp. (NTST) – another new entrant in our screen – had spiked to its all time high of 230% earlier this week before retreating to 68% as of Thursday-end, though the 5-day increase was still a sizable 38 percentage point increase. Days-to-cover ratio nearly tripled to 1.4-times. Shares of Netstreit Corp. were up 2.3% excluding dividend in the five-day trading period covered.
DANAOS SHORT INTEREST ALSO DOUBLES TO OVER 20%
Estimated short interest in Danaos (DAC) more than doubled to 21% from 9.5% as of last Thursday while days-to-cover ratio increased to 1.6 from 0.7. Short positioning in the stock spiked to over 150% in late April, but has remained below the 30% threshold for over a month. Shares of Danaos were down 1.0% in the five-day trading period covered.
SECOND SIGHT SHORT INTEREST NUDGES HIGHER AFTER TWO WEEKS OF DECLINES
Estimated short interest in Second Sight (EYES) tapered off to a three-week low last Friday but has since increased in four consecutive trading session, steadily rising to 12.9% from 11.2% for the week. Days-to-cover ratio in the stock was also up modestly at 0.12. Shares of Second Sight were up 8.4% in the five-day trading period covered.
MACY’S, ASPEN TECHNOLOGY SHORT INTEREST DECLINES
Macy’s (M) and Aspen Technology (AZPN) saw the most pronounced declines in short positioning within our Ortex-driven data set. Macy’s estimated short interest over two percentage points to 11.8% - the lowest level in about three weeks – while days-to-cover declined 18% to 1.24. Aspen Technology estimated short interest was also down over two percentage points to just over 10%, marking the second consecutive week of declines in short positioning after a May 19th peak above 35%. Shares of Macy’s were down 2.9% and Aspen Technology were down 3.0% in the five-day trading period covered.
