The 6 Most Shorted Nasdaq Stocks

December 12, 2017 by Trey Thoelcke

The American Thanksgiving holiday fell between the November 15 and November 30 short interest settlement dates, and investors had much to give thanks for, with the market’s bull run approaching nine years old and the major markets still at or near new all-time highs. Judging by the most shorted stocks traded on the Nasdaq, short sellers had mixed feelings in that time.

While the short interest moves among these stocks were mixed overall, the downswings were more common than the upward moves. However, few moves among the stocks at the top of the list were especially sizable.

Note that still just three Nasdaq stocks had more than 100 million shares short as of the end of last month.

Sirius XM

The more than 228.79 million Sirius XM Holdings Inc. (NASDAQ: SIRI) shares short after the two weeks to November 30 represented a gain of over 12 million from the previous settlement date, which was the lowest level of short interest so far this year. The latest reading totaled 16.1% of the available float. The average daily volume dwindled in the period, so the days to cover rose from about 12 to more than 16.

There has been speculation recently over whether Sirius might buy Pandora Media. The stock ended the short interest period almost 2% lower than where it began it, though it has more than recovered that much since then. The Nasdaq also rose less than 2% between the settlement dates. Sirius shares closed most recently at $5.64 apiece. That is less than the 52-week high of $5.89 seen near the end of July. The 52-week low of $4.40 was reached almost a year ago.

AMD

By the end of November, Advanced Micro Devices Inc. (NASDAQ: AMD) had about 177.02 million shares short. That was growth of more than 2% from the total on the previous settlement date, but it represented 19.6% of the company’s float. It was also the greatest level of short interest in the past year. The average daily volume has been lower in only one period this year, and as of the latest posting it would take a more than four days to cover all short positions.

AMD is still a top semiconductor pick at Merrill Lynch. Its November 30 share price was more than 3% lower than on the previous settlement date, though the shares were up about 4% at one point in the period. The stock closed trading on Monday at $10.16 a share, which is about 16% lower than six months ago. Shares have changed hands at between $9.42 and $15.65 apiece in the past year.

Intel

More than 147.64 million Intel Corp. (NASDAQ: INTC) shares were sold short as of the most recent settlement date. The figure shrank by more than a million from the greatest level of short interest in at least the past year. And it represented 3.2% of the company’s float. As of the end of last month, it would take more than five days for investors to cover all short positions.

Massive spending on the cloud is expected to benefit Intel. The stock ended the short interest period about 2% lower, though it was down more than 4% at one point. Intel closed most recently at $43.66 a share, down from last month’s 52-week high of $47.30. The 52-week low is $33.23. The share price now is more than 22% higher than six months ago.

Synergy Pharmaceuticals

Short interest at Synergy Pharmaceuticals Inc. (NASDAQ: SGYP) totaled over 76.15 million shares on November 30, after a decline of almost 5% from on the prior settlement date. That represented a whopping 30.9% of the total float though, and it was still the second greatest level of short interest so far this year. The days to cover jumped from less than six to more than 10 during the latest period as the average daily volume shrank.

This biopharmaceutical company is focused on treatments for constipation and irritable bowel syndrome. Short sellers watched the stock rise almost 6%, drop into the red, and then rise almost 6% again by the conclusion of those two weeks. The most recent closing share price was $1.88, which is almost 54% lower than it was six months ago. The shares have changed hands between $1.68 and $7.15 apiece in the past year.

Mattel

Mattel Inc. (NASDAQ: MAT) saw the number of its shares short shrink for the second consecutive period, confirming the break in the previous nine straight periods of short interest growth. The approximately 68.67 million shares reported for the end of last month was down more than 9%, but it was still double the number of shares short at the beginning of the year.  The most recent reading was 20.0% of the float. As the average daily trading volume tumbled, days to cover leaped from a little more than four to more than nine in the period.

The toy maker rejected a merger bid by rival Hasbro last month. In the final two weeks of November, shares of Mattel increased around 5% but then gave up almost all that gain. The most recent closing stock price was $15.37, which is down almost 31% in the past six months. In the past year, the shares have traded between $12.71 and $31.60 apiece.

Comcast

Comcast Corp.’s (NASDAQ: CMCSA) short interest retreated more than 7% from in the previous period to more than 62.35 million shares on the most recent settlement date. That represented just 1.3% of the total float. The days to cover remained more than two, as it has since last September. The year-to-date peak in short interest was more than 78 million shares back in May.

Comcast is among supporters of changes to net neutrality. The stock closed most recently at $38.44 a share, in a 52-week trading range of $34.12 to $42.18. By the end of the short-interest period, the share price was about 1% higher, despite being in the red for much of the two weeks. The share price currently is more than 6% lower than it was six months ago.

And Others

Rounding out the top 10 were Opko Health Inc. (NASDAQ: OPK), Micron Technology Inc. (NASDAQ: MU), TherapeuticsMD Inc. (NASDAQ: TXMD) and JD.com Inc. (NASDAQ: JD). Short sellers shied away from the two biotechs in the period, while the other two saw modest bumps in their short interest.

Note that the number of shares short in Cisco Systems Inc. (NASDAQ: CSCO) and in Groupon Inc. (NASDAQ: GRPN) increased by double-digit percentages, but that was not enough to lift them into the top 10, at least not by the settlement date.

Microsoft Corp. (NASDAQ: MSFT) also lingered just outside the spotlight of the top 10 most shorted Nasdaq stocks late last month.

Sponsored: Want to Retire Early? Here’s a Great First Step

Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?

Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.

Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.