The 6 Most Shorted Nasdaq Stocks
Short interest at Neovasc Inc. (NASDAQ: NVCN) totaled more than 72.93 million shares by the middle of this month, after pulling back less than 2% from a 52-week high on the prior settlement date. That still represented 4.2% of the total float, and it was the second greatest level of short interest in the past year. The days to cover remained less than one during the latest period as the average daily volume increased.
This Canadian cardiovascular device maker posted disappointing quarterly results during the period. Short sellers watched the stock rise about 34% (less than two cents a share) but then end those two weeks near 19% lower, though it has recovered since then by more than 45%. The most recent closing share price was $0.04, about a penny more than the 52-week low. Shares are more than 92% (less than 50 cents) lower year to date and so don’t appear to have much further to sink. The stock has traded as high as $1.89 a share in the past year.
Comcast Corp.’s (NASDAQ: CMCSA) short interest increased more than 2% in the latest period, reclaiming a similar decline in the prior period. The more than 68.31 million shares on the most recent settlement date represented 1.5% of the total float. The year-to-date high was more than 86 million shares short back in January. Also note that the latest days to cover figure was still less than three even as the average daily volume shrank somewhat.
Rumors during the period had Comcast bidding against Disney for 21st Century Fox assets. Its share price ended the latest two-week period about 2% higher, but that gain essentially has been erased since that time. The stock closed most recently at $31.63 per share, which is down almost 23% since the beginning of the year. Its 52-week trading range is $30.43 to $44.00, and that low was seen earlier this month.
Opko Health Inc.’s (NASDAQ: OPK) short interest rose about 2% from in the previous period to more than 67.37 million shares on the most recent settlement date. That was the greatest level of short interest so far this year, and it represented 20.7% of the total float. At the latest daily average trading volume, a year-to-date high, the days to cover figure was near 11.
For well more than a year, the CEO frequently has bought batches of Opko shares. The stock dropped more than 21% this past week and closed at $3.70 a share on Thursday. The 52-week trading range is $2.66 to $7.25. By the end of the two-week short-interest period, the share price was more than 54% higher, most of that gain coming in the wake of its latest earnings report. But the stock currently is more than 25% lower than at the beginning of the year.
Rounding out the top 10 were Micron Technology Inc. (NASDAQ: MU), Synergy Pharmaceuticals Inc. (NASDAQ: SGYP), Mattel Inc. (NASDAQ: MAT) and Caesars Entertainment Corp. (NASDAQ: CZR). The stand out here was Micron, with a double-digit percentage rise in the number of its shares short. Short interest moves in the others were modest.
Lingering outside the spotlight of the top 10 most shorted Nasdaq stocks again in the most recent period were TherapeuticsMD Inc. (NASDAQ: TXMD), Cisco Systems Inc. (NASDAQ: CSCO) and Novavax Inc. (NASDAQ: NVAX).