Investing

The 6 Most Shorted Nasdaq Stocks

Trey Thoelcke
Opko Health

Opko Health Inc.’s (NASDAQ: OPK) short interest increased around 4% from in the previous period to more than 64.98 million shares on the most recent settlement date. That was the third period in a row with more than 60 million shares short, and it represented 19.9% of the total float. At the latest daily average trading volume, and the days to cover figure was more than 12.

For well more than a year, the CEO frequently has bought batches of Opko shares. The stock closed most recently at $3.08 a share, in a 52-week trading range of $2.66 to $7.90. By the end of the two-week short-interest period, the share price was a more than 5% lower, despite being up about 10% early in the period. The stock currently is down around 38% since the beginning of the year.

Micron Technology

The number of Micron Technology Inc. (NASDAQ: MU) shares short totaled more than 62.67 million on the latest settlement date. That was a nearly 5% decline in the two weeks, and it represented 5.7% of the total float. It was also the fifth time in the past year that more than 60 million shares were short. The average daily trading volume pulled back in the latest period, but the days to cover figure remained at a one.

This remains a popular stock not only with analysts but also with institutional investors. By the end of the two weeks, the share price was almost 13% lower, and it has continued to retreat since that time. The stock was relatively flat in the past week and ended Tuesday’s trading at $50.48 a share. That is still more than 15% higher than at the start of the year, as well as in the middle of the 52-week trading range of $26.36 to $63.42

Mattel

The number of Mattel Inc. (NASDAQ: MAT) shares short shrank more than 2% and totaled over 62.29 million on the latest settlement date. That was the second-highest level of short interest so far this year, and it represented 18.2% of the total float. The average daily trading volume pulled back just a bit, and the days to cover figure remained less than 10.

The collapse of retailer Toys “R” Us remained a major concern for Mattel investors. By the latest short interest settlement date, the share price was more than 4% lower, most of that pullback coming early in the period. The stock ended trading most recently at $13.52 a share, in a 52-week range of $12.71 to $25.97. The share price currently is more than 15% lower than at the beginning of the year.

And Others

Rounding out the top 10 were Comcast Corp. (NASDAQ: CMCSA), Synergy Pharmaceuticals Inc. (NASDAQ: SGYP), TherapeuticsMD Inc. (NASDAQ: TXMD) and Novavax Inc. (NASDAQ: NVAX), which snuck onto the list with a 10% bump in its short interest. The moves in the other two biotechs went the other way but were marginal.

Note that Apple Inc. (NASDAQ: AAPL) also saw a sharp decline in its shares short between the settlement dates. Consequently, it fell out the top 10 most shorted Nasdaq stocks list. Lingering along with it outside the spotlight of the top 10 are tech stocks Microsoft Corp. (NASDAQ: MSFT) and Marvell Technology Group Ltd. (NASDAQ: MRVL).