The 6 Most Shorted Nasdaq Stocks

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Neovasc

Short interest at Neovasc Inc. (NASDAQ: NVCN) totaled more than 83.05 million shares by the end of the month, after pulling back more than 2% from the prior settlement date. That was the fourth period in a row in which the number of shares short dropped. The days to cover rose to a year-to-date high of more than six during the latest period as the average daily volume continued to shrink.

Nasdaq has begun the process of delisting this Canadian cardiovascular device maker. Short sellers watched the stock retreat about 13% (less than a penny per share) in those two weeks, though it bounced back afterward on published study results. The most recent closing share price was just above the 52-week low of $0.03. Shares are around 94% (about 57 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.

Caesars Entertainment

Caesars Entertainment Corp.’s (NASDAQ: CZR) short interest has increased for 12 straight periods, and the latest gain was more than 1.6 million shares. The almost 82.55 million shares on the month’s end settlement date represented 14.3% of the total float, and it was the greatest number of shares short in at least the past year. Also note that the latest days-to-cover figure is still about nine.

Merrill Lynch started coverage of the stock in July with a Buy rating. Its share price ended the most recent two-week short interest period down less than 2%, and it tumbled further this month after earnings were posted. The stock closed on Thursday at $9.90 per share, which is down more than 20% since the beginning of the year. Its 52-week trading range is $8.55 to $14.50, and that low was seen last week.

Opko Health

Opko Health Inc.’s (NASDAQ: OPK) short interest rose more than 5% from in the previous period to more than 77.26 million shares on the most recent settlement date. That was the greatest level of short interest in almost a year, and it represented 23.8% of the total float. The daily average trading volume jumped back near the year-to-date high, and the days to cover figure ticked down to about 10.

For well more than a year, the CEO frequently has bought batches of Opko shares. The stock retreated more than 5% this past week and closed at $5.50 a share on Thursday. The 52-week trading range is $2.66 to $7.24. By the end of the two-week short-interest period, the share price was nearly 5% lower, though it had been down more than 19% at one point.

And Others

Rounding out the top 10 were Comcast Corp. (NASDAQ: CMCSA), Mattel Inc. (NASDAQ: MAT), Geron Corp. (NASDAQ: GERN) and TherapeuticsMD Inc. (NASDAQ: TXMD). Comcast was the standout here, with a notable drop in the number of its shares short in those two weeks.

Lingering outside the spotlight of the top 10 were Novavax Inc. (NASDAQ: NVAX), Synergy Pharmaceuticals Inc. (NASDAQ: SGYP) and MiMedx Group Inc. (NASDAQ: MDXG).

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