What Short Sellers Are Saying About Alphabet Ahead of Earnings
Alphabet's short interest for the April 15 settlement date may be setting the tone for earnings after the close.
Alphabet Inc. (NASDAQ: GOOGL | GOOGL Price Prediction) ranks as the fourth-largest company in the world, with a market cap over $1.5 trillion. It is in an elite club with the likes of Apple, Microsoft and Amazon, all with market caps over $1 trillion. However, its short interest hardly compares to most of these big names.
For the most recent settlement date, Apple’s short interest came in at 127.94 million, and 61.16 million Microsoft shares were short. The number of shares short on Amazon was much lower at 5.76 million. Again, Alphabet’s short interest fell below this whole group.
Alphabet’s short interest for the April 15 settlement was 4.17 million shares, up handily from 2.97 million on the prior settlement date. Note that this also compares with the 3.92 million shares short reported in the same period of last year.
In the past 52 weeks, the stock has outperformed the broad markets, with shares up about 81%. Year to date, the stock is up only 32%.
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Alphabet has a daily average volume of 1.37 million shares traded, so it would take short sellers about 3.05 days to cover their positions.
Look out for Alphabet earnings that are coming out after the close Tuesday. Also, one major analyst was very positive on Alphabet and a few other big internet stocks.
Alphabet stock traded near $2,304 Tuesday morning, in a 52-week range of $1,230.38 to $2,324.53. The consensus price target is $2,426.55.
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Chris Lange is a financial and geopolitical writer with more than a decade of experience covering a myriad of topics. He has published thousands of articles for 24/7 Wall St., with past coverage focused heavily on stocks, IPOs, healthcare, defense, global affairs, and technology.
His work has been quoted, or referenced by a number of outlets including Business Insider, USA Today, Yahoo Finance, MSN, The Motley Fool, and many other publications. A graduate of Southwestern University, he studied business with a focus on investments and has previous experience in banking and startups.
When not reading or writing the news, he is following his passion for Lacrosse, playing chess, or building solar projects with his dad.
