Short Sellers Look Quite Aggressive Against Bitcoin, Cryptocurrency and Blockchain Stocks
In the world of bitcoin, blockchain and cryptocurrency trading, there has been a story that went from rags to riches and back to rags in a pretty short time. The underlying technology is of course set to remain in place. Still, many investors and speculators think that bitcoin itself and the subsequent cryptocurrencies are just the next bubble.
24/7 Wall St. tracks many key short interest stock sectors to see how investors and speculators are feeling toward them. It turns out that the short sellers are more than just active when it comes to the companies issuing press releases and strategies around bitcoin, cryptocurrencies and blockchain.
We have evaluated the short selling history for each company, but company descriptions and the migration from an old world company to the new crypto-strategy are no longer included. Recent price data have been included.
DPW Holdings Inc. (NYSEAMERICAN: DPW), or Digital Power Corp., had a short interest of 3.797 million shares of as February 28, up from 3.757 million shares short as on February 15. This is about 1.5 days to cover, but it is roughly 28% of its float being short. Trading at $1.30 now, DPW has a 52-week range is $0.40 to $5.95.
Long Blockchain Corp. (NASDAQ: LBCC) saw its short interest rise to over 639,000 shares on the latest settlement date from over 563,000 two weeks earlier. This rivaled the peak short interest of just over 656,000 from January 12. The former Long Island Tea company was last seen trading at $2.69, in a 52-week range of $1.70 to $9.49.
Marathon Patent Group Inc. (NASDAQ: MARA) saw its short interest rise to 2.247 million shares short from $2.111 million shares. This was the highest short interest since the 2.685 million shares short in mid-December. This new higher short interest also represented 5.3 days to cover. The shares were last seen at $1.72, and they have a 52-week range of $0.52 to $10.03.
Overstock.com Inc. (NASDAQ: OSTK) remains heavily shorted. The online seller and now exchange and brokerage player for cryptocurrencies had a short interest of 7.292 million shares as of the latest settlement date. It was at 7.08 million in mid-February and just under 5.3 million shares short at the end of January. The most recent reading represents 2.53 days to cover. Overstock.com shares were last seen at $60.30, and they have a 52-week range of $13.75 to $89.80.
Riot Blockchain Inc. (NASDAQ: RIOT) had its highest short interest reading yet at 2.792 million at the end of February. It was just 2.27 million shares in the mid-February, and this now sits at the highest number of shares short since this company turned to blockchain. Riot Blockchain shares were last seen trading at $9.04. The 52-week range is $3.06 to $46.20.
Social Reality Inc. (NASDAQ: SRAX) saw its short interest rise to 1.424 million shares short from the prior 1.411 million. This is still elevated, but down from the peak of 1.517 million shares short as of January 31. Social Reality was last trading up almost 10% at $4.73, and it has a 52-week range of $1.11 to $7.95.
Square Inc. (NYSE: SQ) saw its short interest hit 35.7 million shares, which is now 13.5% of its float and 2.6 days to cover. The prior short interest was 34.15 million shares and this seems to have kept rising or remaining strong. Square, Jack Dorsey’s other company, was trading at $52.50 and it has a 52-week range of $16.11 to $53.46.
U.S. Global Investors Inc. (NASDAQ: GROW) saw only a minor uptick in its short interest, rising to 1.088 million shares short (2/28) from 1.051 million shares (2/15). That being said, The short interest had been just under 1.5 million shares for the three prior reports, but the new days to cover ratio of 5 is now higher than it has been in prior reporting periods. Shares of U.S. Global Investors were last seen trading at $2.88 and the 52-week range is $1.25 to $7.49.