Autos

Short Sellers Mixed on Electric Vehicle Stocks

Short interest moves among automakers’ stocks were split during the two-week reporting period that ended on October 30. Of the companies we watch, short interest increased on three of six electric vehicle (EV) makers and decreased on both traditional carmakers.

Data for all the companies we normally track was not available Wednesday morning

Tesla Inc. (NYSE: TSLA) short interest data was not available for the latest two-week period. Shares dropped about 13.5% in the two-week reporting period. The stock’s 52-week range is $65.42 to $502.49 (split-adjusted) and it closed at $410.36 on Tuesday. Shares traded up about 1% Wednesday morning.

Nikola Corp. (NASDAQ: NKLA) short interest rose by 14.4% in the two weeks to October 30. About 43.4 million shares were short, representing 31.7% of the company’s total float. Nikola’s share price tumbled by more than 21% during the reporting period. The stock’s post-IPO range is $10.27 to $93.99, and shares closed at $18.03 on Tuesday and traded up about 7.6% Wednesday morning at $19.41.

Nio Ltd. (NYSE: NIO) saw short interest was virtually unchanged at 60.8 million American depositary shares (ADSs). Days to cover remained at one, and 5.7% of the company’s float was short. The stock’s 52-week range is $1.66 to $45.29, and shares closed Tuesday at $26.01. The stock traded down about 1.5% Wednesday morning. It gained about 9% during the two-week reporting period.

Workhorse Group Inc. (NASDAQ: WKHS) short interest data was not available for the latest two-week period. The share price tumbled by 31% in the period, and the stock closed at $18.99 on Tuesday and traded up about 1.7% Wednesday morning. The stock’s 52-week range is $1.32 to $30.99.

Li Auto Inc. (NASDAQ: LI) short interest increased by nearly 7% in the period. About 9.5 million ADSs were short, representing about 15.3% of the China-based company’s total float. The share price dipped by 1.6% in the period. The post-IPO range is $14.31 to $28.49, and shares closed at $25.24 on Tuesday and traded down about 2.3% Wednesday morning.

Xpeng Inc. (NYSE: XPEV) short interest increased by 16.6% to 11.2 million ADSs in the short interest reporting period ended October 30. Shares fell by 12.6% in the two weeks and closed at $32.90 on Tuesday, in a post-IPO range of $17.11 to $39.50. The stock traded down about 2.5% Wednesday morning.

General Motors Co. (NYSE: GM) short interest declined by 5% in the reporting period ended October 30. About 19.9 million GM shares were short, or about 1.5% of the company’s float. Days to cover remained at two. Shares rose by around 6% in the period and closed Tuesday at $41.08, in a 52-week range of $14.33 to $41.76. The high was posted early Wednesday morning, likely the result of an agreement with Walmart to begin a test program for an automated delivery service. The stock traded down about 0.7% at last look.

Ford Motor Co. (NYSE: F) short interest dipped by 5% to 89.2 million shares, or about 2.3% of the total float. Days to cover remained at two. The stock price increased by 1.4% in the reporting period, and shares closed at $8.38 on Tuesday, in a 52-week range is $3.96 to $9.57. Shares traded up about 0.2% Wednesday morning.