The 6 Most Shorted Nasdaq Stocks: Intel Slips Down the List

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AMD

By the end of July, Advanced Micro Devices Inc. (NASDAQ: AMD) had more than 75.37 million shares short. That was down from more than 71.44 million on the previous settlement date, which was the lowest short interest so far this year. The most recent reading totaled 11.6% of the company’s float, and the days to cover dropped to less than two as the average daily volume rose to a year-to-date high.

During the period, AMD’s earnings raised expectations for a turnaround. The ending share price was more than 33% higher than on the previous settlement date. The stock reached a new 52-week high of $7.16 during the period, but shares closed at $6.60 on Tuesday. The 52-week low is $1.65.

Micron Technology

The number of Micron Technology Inc. (NASDAQ: MU) shares short, at more than 71.33 million shares as of the end of the month, was almost 3% higher than in the previous period. And it was 6.9% of the total float, as well as the highest level of short interest so far this year. Though the daily average volume decreased somewhat, the days to cover remained above two.

Buyout rumors swirled around Micron in late July. The stock saw a share price jump of almost 12%, before settling at a less than 5% gain, for the two-week short-interest period. It has increased more than 5% since then. Shares closed on Tuesday at $14.48, in a 52-week range of $9.31 to $19.30.

Opko Health

Opko Health Inc.’s (NASDAQ: OPK) short interest, at around 68.46 million shares as of the end of the month, was about the same as in the previous period. That was 21.0% of the total float. The daily average volume declined during the final weeks of the month, and the days to cover grew from 26 to 31.

The CEO continues to frequently buy batches of shares, as he has done for more than a year. The stock closed Tuesday at $10.14, in a 52-week range of $7.12 to $13.76. The share price stayed essentially flat across the two-week short-interest period, though it has risen almost 2% since.

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And Others

Rounding out the top 10 were Huntington Bancshares Inc. (NASDAQ: HBAN), Intel Corp. (NASDAQ: INTC), Novavax Inc. (NASDAQ: NVAX) and Marriott International Inc. (NASDAQ: MAR). There was little movement here either, aside from the nearly 8% decline in Intel shares short. Still lingering outside the top 10 are Cisco Systems Inc. (NASDAQ: CSCO), BlackBerry Ltd. (NASDAQ: BBRY) and Groupon Inc. (NASDAQ: GRPN).

The most notable short interest gainers during the period were Apple Inc. (NASDAQ: AAPL) and Microsoft Corp. (NASDAQ: MSFT), which each saw the number of shares short rise between 12% and 15%. However, both remain well outside the top 10 most shorted Nasdaq stocks.