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 0.4%, the Russell 2000 index was down 1.1%, the Russell 1000 Growth ETF (IWF) was up 1.4%, and the Russell 1000 Value ETF (IWD) was down 2.0% in the period range.
AMC ENTERTAINMENT, GAMESTOP SHORT INTEREST DIVERGES
AMC Entertainment (AMC) remained firmly entrenched as the focal point of the WallStreetBets community, leading the “meme stocks” with a 42% rally in the five-day trading period covered, even though its estimated short interest ticked higher by two percentage points to 13.6%. By contrast, estimated short position in GameStop (GME) was down four percentage points even though the stock was up 1.5% in the five-day trading period covered. Days-to-cover ratios in the two “original” meme names were little changed at 0.6 and 0.9.
ARCIMOTO SHORT INTEREST HITS ALL TIME HIGH
Estimated short interest in Arcimoto (FUV) continued to build from its February plateau, rising every day this week for an overall five day increase of nine percentage points to 48%. Short positioning in the name has reached its highest level on record, with days-to-cover also increasing by 23% to 7.7-times. Shares of Arcimoto were up 4.6% in the five-day trading period covered.
WORKHORSE GROUP SHORT INTEREST HITS NEW MULTI-YEAR HIGH
Workhouse Group (WKHS) shares also remained in the spotlight of the Reddit WallStreetBets board as one of the top-ten names in terms of message volume this week, though the stock has consolidated its June gains with a 4.1% slide in the five-day trading period covered. The short interest in the name continued to build, however, rising eight percentage points to 60% while its days-to-cover increased 12% to 3.9. Estimated short position in Workhorse is at a new multi-year high.
NATIONAL BEVERAGE SHORT INTEREST BOUNCES FROM TWO-MONTH LOW
Estimated short interest in National Beverage (FIZZ) declined to a two-month low of 16.6% early last week before building again into the weekend and every day of this week. Short positioning in the name was up four percentage points overall to 23.3%, with days-to-cover also rising about 33% to 3.9. Shares of National Beverage were down 2.5% in the five-day trading period covered.
SECOND SIGHT SHORT INTEREST APPROACHING THREE-MONTH HIGH
Estimated short interest in Second Sight (EYES) increased six percentage points to 20.8%, rising in three of the past five trading days while approaching a three-month high of just over 21%. Likewise, the days-to-cover ratio in the name was up 77% to 0.8. Shares of Second Sight were up 11.5% in the five-day trading period covered.
AKOUOS, PROGENITY NEWCOMERS TO HIGH SHORT INTEREST SCREEN
Akouos (AKUS) and Progenity (PROG) were the notable newcomers to the Ortex-driven data set screening for outsized short interest changes. The estimated short position in Akouos jumped 14 percentage points to a three-month high level of 25.6% while that of Progenity spiked 22 percentage points to an all-time high 81.3%. Shares of Akouos were down 2.3% and Progenity were up 23.7% in the five-day trading period covered.
