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Business Insider
3 days ago
- Business
- Business Insider
Short Report: Bears questioning Cinemark, Groupon rallies
Welcome to this week's installment of 'The Short Interest Report' – The Fly's weekly recap of short interest trends among some of the most widely followed high-short-float stocks. Using the data from our partner which utilizes the latest information from stock lenders to estimate short interest changes for thousands of publicly traded companies, this report will screen for some of biggest changes in short interest as a percentage of free float and days-to-cover ratios while also considering the short interest data on some of the more volatile and heavier-traded names of the week. Based on the availability of data from Ortex, the report tracks the trading period that covers prior Friday through Thursday of this week, excluding holidays. As a basis of comparison for stocks discussed below, the S&P 500 index was up 1.2%, the Nasdaq Composite was up 1.3%, the Russell 2000 index was up 1.5%, the Russell 2000 Growth ETF (IWO) was up 1.3%, and the Russell 2000 Value ETF (IWN) was up 1.6% in the four-day trading session range through May 29. Confident Investing Starts Here: SHORT INTEREST GAINERS Ortex-reported short interest in Cinemark (CNK) has tracked sideways in 16% to 22% range from mid-March until the final week of May, even though the stock has enjoyed a runup of about 35%. This week however, short positioning as a percentage of free float has jumped more dramatically, increasing from 18.8% to a four-month high of 26.6%. Sentiment on the stock has remained positive following the company's Q1 results on May 2nd as shares have gained 13% since those earnings inclusive of Friday's 2.5% rally and were up 1.6% in the four-day period covered through Thursday, though bears are increasingly questioning whether the robust box office slate will match demand from tightening consumer budget. Ortex-reported short interest on Groupon (GRPN) had fallen precipitously from 67% in late December to a ten-month low of 26% on Monday as bears fled the tripling in the stock price that started in mid-March after the company's Q4 results and was spurred further by another strong performance in Q1. The rest of the week however, shorts as a percentage of free float turned higher, rising from 26% to nearly 29%, even though the price action is not yet matching the increased willingness by the bears to test the sustainability of the bounce. In the four-day period covered, Groupon shares were up 10.4%, and year-to-date, the stock has gained 140%. Ortex-reported short interest on Avis Budget (CAR) has continued to increase sharply, rising another five and a half percentage points this week to 47.8%. Shorts as a percentage of free float on the stock troughed at just 12% in late January prior to the start of its run, and the current levels are now the highest since June of 2020. The stock, meanwhile, bottomed in mid-March but has since more than doubled from those lows, with a year-to-date gain topping 50%. This week, Avis Budget shares were up 1.5% in the four-day period through Thursday. Ortex-reported short interest on Sunrun (RUN) had peaked around 35% in late April and receded to about 29% over the next three weeks, though this week has seen shorts as a percentage of free float jump again while the stock sold off heavily. Bearish positioning rose to 31.1% and days-to-cover on the name was up 30 basis points to 4.5. The stock, meanwhile, was up about 2% in the four-day period through Thursday and ended the week with a 9% jump on Friday, though shares are still down 43% from their recent peak on May 13 and down 19% year-to-date. SHORT INTEREST DECLINERS Ortex-reported short interest on Guess (GES) had peaked at 39% in mid-March before a buyout offer from private equity name WHP Global had scurried bears to the sidelines with a 13 percentage point retreat that accompanied a 25% jump in the stock price. Authentic Brands Group (AUTH) had joined the bidding war for Guess in late April, giving the stock price another jolt higher and the rebuilding shorts another blow. This week, as the company prepares to report its Q1 results on Thursday, shorts as a percentage of free float on Guess fell from 25.8% to 20.2% – a one-year low. Guess shares were flat in the four-day period covered but slipped 6% on Friday. Relative to the level just before the WHP bid however, the stock is still up 7%.
Business Insider
25-05-2025
- Business
- Business Insider
Short Report: Bears bite into Krispy Kreme after another weak earnings report
Welcome to this week's installment of 'The Short Interest Report' – The Fly's weekly recap of short interest trends among some of the most widely followed high-short-float stocks. Using the data from our partner which utilizes the latest information from stock lenders to estimate short interest changes for thousands of publicly traded companies, this report will screen for some of biggest changes in short interest as a percentage of free float and days-to-cover ratios while also considering the short interest data on some of the more volatile and heavier-traded names of the week. Based on the availability of data from Ortex, the report tracks the trading period that covers prior Friday through Thursday of this week, excluding holidays. As a basis of comparison for stocks discussed below, the S&P 500 index was down 1.3%, the Nasdaq Composite was down 1.0%, the Russell 2000 index was down 2.4%, the Russell 2000 Growth ETF (IWO) was down 1.1%, and the Russell 2000 Value ETF (IWN) was down 3.0% in the five-day trading session range through May 22. Confident Investing Starts Here: SHORT INTEREST GAINERS Otex-reported short interest in Krispy Kreme (DNUT) continues to soar as its stock continues to sink following another disappointing earnings report by the company on May 8th. Shorts as a percentage of free float jumped five percentage points to a record high of 32.2, with days to cover also increasing from 5.1 to 5.8 despite the spike in trading volume post-earnings. The company missed on the top line in Q1, offered below-consensus Q2 guidance, and also pulled its FY25 guidance due to 'macroeconomic softness and the uncertainty around the McDonald's deployment schedule'. The stock was 8% in the five-day period covered through Thursday, but has fallen 33% overall from levels just prior to Q1 earnings and is now down over 70% year-to-date. Shares of Rocket Companies (RKT) treaded water this week as the run-up in interest rates appeared to slow, though – as highlighted last week – the propulsion in Ortex-reported short interest on the stock is persisting despite the absence of pronounced pressure in price. Shorts as a percentage of free float on the stock was up another six percentage points to hit a four-year high above 44% and days-to-cover extended its increase by a decimal to 7.2. Shares, meanwhile, were down just 1.5% in the five-day period covered, and the year-to-date tally on Rocket is still a robust 13%. Ortex reported short interest in Neurogene (NGNE) had trended largely sideways from the last week of April through the middle of May just shy of the 60% level, though this past week has seen a spike all the way up to 87%. Volume has receded, though days-to-cover on the stock slipped from 17.3 to 15.3. The stock has had a positive couple of weeks, with a higher thrust on May 15th as Baker Bros Advisors disclosed a 10% stake and then earning a higher price target from BMO after an oral presentation at the American Society of Gene and Cell Therapy annual meeting describing a monitoring / treatment algorithm intended to reverse hyperinflammatory syndrome hemophagocytic lymphohistiocytosis. In the five-day period covered, Neurogene was down 6.9%, though relative to its April 8 low, the stock has more than doubled. Gains in Ortex-reported short interest in 1-800-Flowers (FLWS) have accelerated while the stock continued to track lower after reporting its Q3 results on May 8. Shorts as a percentage of free float rose sharply this week, increasing from 56% to about 67% – a record high. The stock, meanwhile, was up 2% in the five-period covered through Thursday, but including Friday's 4% loss, shares of 1-800-Flowers are now down 19% post earnings and 43% year-to-date. Ortex-reported short interest on Madrigal Pharmaceutical (MDGL) receded from about 40% to a 10-month low below 32% and days-to-cover slipped from 6.6 to 6.1 as bears chose to book profits in the stock following this month's pullback. Madrigal shares slipped 12% over the 4-day period after its Q1 results on May 1 and are now down 20% from levels heading into those earnings, even though its loss was narrower than expected and several sell-side firms boosted their price targets due to strong Rezdiffra product sales. In the five-day period covered through Thursday, the stock was down 13%.
Business Insider
19-05-2025
- Business
- Business Insider
Short Report: Bears not fearing rebound in Rocket, Avis Budget shares
Welcome to this week's installment of 'The Short Interest Report' – The Fly's weekly recap of short interest trends among some of the most widely followed high-short-float stocks. Using the data from our partner which utilizes the latest information from stock lenders to estimate short interest changes for thousands of publicly traded companies, this report will screen for some of biggest changes in short interest as a percentage of free float and days-to-cover ratios while also considering the short interest data on some of the more volatile and heavier-traded names of the week. Based on the availability of data from Ortex, the report tracks the trading period that covers prior Friday through Thursday of this week, excluding holidays. As a basis of comparison for stocks discussed below, the S&P 500 index was up 4.4%, the Nasdaq Composite was up 6.6%, the Russell 2000 index was up 3.4%, the Russell 2000 Growth ETF (IWO) was up 3.8%, and the Russell 2000 Value ETF (IWN) was up 3.3% in the five-day trading session range through May 15. Confident Investing Starts Here: SHORT INTEREST GAINERS Ortex-reported short-interest on Rocket Companies (RKT) troughed around 18% in late-March but has since risen more briskly while the stock has continued trading sideways as it has for much of this year. This week, in the five-day period covered through Thursday, shorts as a percentage of free float on Rocket jumped from 31.3% to 37.5%, even though days-to-cover on the name was down from 7.5 to 7.1 amid a resurgence in trading volume. Bears are so far undeterred from the post-earnings bounce in shares, which were up about 10% since the company reported in-line Q1 results but better than feared Q2 guidance last Thursday. Inclusive of Friday's 3.6% gain, year-to-date rally in Rocket now amounts to about 18%. Ortex-reported short interest in Avis Budget (CAR) has resumed its climb after about a month of sideways exposure, with shorts as a percentage of free float on the stock jumping from 31.3% to 35.8% through Thursday, though the mid-week high of 39% was the largest relative short position in nearly five years. Bears are not buying the dramatic bounce in shares from mid-March lows. The stock has now nearly doubled from a four-year low put in on March 13th and, including Friday's 3% gain, has gained 35% year-to-date. Ortex reported short interest in Immunity Bio (IBRX) tracked just below the 30% level from the fist week of March through last Thursday before jumping this week all the way to 54% – a two-month high. Days-to-cover on the stock slipped however from 14.9 to 14.2 as volume increased over the past two weeks. The company reported in-line Q1 results earlier this week and the stock has largely had a positive response to the management constructive discussion of its ANKTIVA drug. Shares were up 14% on the results, also gaining 28% in the five-day period covered. Immunity Bio is also up 11.3% year-to-date, with the stock up a substantial 6% in Friday's session. Ortex-reported short interest in PureCycle Technologies (PCT) had spent two prior weeks below the 30% mark but this week has risen ten percentage points to 38.9%. Days-to-cover on the name was little changed however at just under 19. The stock, meanwhile, is also up significantly since the company's much better than expected Q1 results on May 7. Through Thursday, shares have gained 25% following those earnings and were up 15% in the five-year period covered. On Friday, PureCycle added to the rally with another 7% advance, though the company's overall 2025 performance is still 9% to the downside. SHORT INTEREST DECLINERS Ortex-reported short interest in Sezzle (SEZL) is diving this week as bears rush for the exit following the company's blowout results and guidance raise. Shorts as a percentage of free float had risen as high as 22% by late April, with bears selling into the 92% stock rise from April 4 lows to the short interest peak on April 28th. This week however, that exposure had been pared to a two-month low of 15% as the stock had gained another 78% following May 7th earnings and has now more than doubled year to date overall. In the five-day period covered, Sezzle was up about 20%, and from its April 4 lows, share are up nearly four times.
