The 6 Most Shorted Nasdaq Stocks

Print Email
Neovasc

Short interest at Neovasc Inc. (NASDAQ: NVCN) totaled about 74.02 million shares by the conclusion of last month, after jumping about 55% from on the prior settlement date. That represented a whopping 83.5% of the total float, and it was handily the greatest level of short interest in the past year. The days to cover remained less than one during the latest period even though the average daily volume decreased.

This Canadian cardiovascular device maker is scheduled to share its most recent quarterly results later this week. Short sellers watched the stock tumble more than 19% by the end of those two weeks, though it has mostly recovered since then. The most recent closing share price was $0.04, a penny more than the 52-week low. Shares are more than 92% lower year to date and so don’t have much further to sink. The stock has traded as high as $1.89 a share in the past year.

Comcast

Comcast Corp.’s (NASDAQ: CMCSA) short interest pulled back more than 2% in the latest period, taking back a little of the 12% gain in the prior period. The more than 66.89 million shares on the most recent settlement date represented 1.5% of the total float. Also note that the days to cover figure was still less than three even though the average daily volume grew somewhat. The year-to-date high was more than 86 million shares short back in January.

Large-cap core fund managers have been aggressively buying sector leaders such as Comcast. Its share price ended the latest two-week period about 3% lower, and it has been relatively flat since them. The stock closed most recently at $30.73 per share. That is down around 25% since the beginning of the year. Its 52-week trading range is $30.43 (seen on Wednesday) to $44.00.

Opko Health

Opko Health Inc.’s (NASDAQ: OPK) short interest decreased about 1% from in the previous period to more than 66.05 million shares on the most recent settlement date. That was the second greatest level of short interest so far this year, and it represented 20.3% of the total float. At the latest daily average trading volume, almost a year-to-date low, the days to cover figure was more than 20.

For well more than a year, the CEO frequently has bought batches of Opko shares. The stock popped about 29% on Wednesday and closed at $4.16 a share, in a 52-week trading range of $2.66 to $7.27. By the end of the two-week short-interest period, the share price was a more than 2% higher, although it was up more than 10% at one point. The stock still is down more than 16% since the beginning of the year.

And Others

Rounding out the top 10 were Synergy Pharmaceuticals Inc. (NASDAQ: SGYP), Mattel Inc. (NASDAQ: MAT), Micron Technology Inc. (NASDAQ: MU) and TherapeuticsMD Inc. (NASDAQ: TXMD). While the other three saw modest increases in the number of their shares short, TherapeuticsMD’s short interest shrank a bit.

Note that the short interest in Caesars Entertainment Corp. (NASDAQ: CZR) has more than doubled in the past three periods, though it has yet to rise into the top 10 most shorted Nasdaq stocks. Meanwhile, Apple Inc. (NASDAQ: AAPL) slipped out of the top 10 with an almost 10% decline between the latest settlement dates.

Also lingered outside the spotlight of the top 10 are Novavax Inc. (NASDAQ: NVAX), Marvell Technology Group Ltd. (NASDAQ: MRVL), Cisco Systems Inc. (NASDAQ: CSCO) and Microsoft Corp. (NASDAQ: MSFT).

I'm interested in the Newsletter