Bed Bath & Beyond short interest hits three-month high; AMC Entertainment short position down sharply
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 Ortex.com, which utilizes the latest information from stock lenders to estimate short interest changes for thousands of publicly traded companies, this version will screen for some of biggest changes in short interest as a percentage of free float and days-to-cover ratios.
This report will also continue to layer 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 will continue to track the trading period that covers prior Friday through Thursday of this week.
As a basis of comparison, the S&P 500 index was down 2.1%, the Russell 2000 index was down 3.1%, the Russell 1000 Growth ETF (IWF) was down 3.2%, and the Russell 1000 Value ETF (IWD) was up 1.2% in the period range.
BED BATH & BEYOND SHORT INTEREST HITS THREE MONTH HIGH
Estimated short interest in Bed Bath & Beyond (BBBY) rose for the second consecutive week with an increase every day this week, rising 10.5 percentage points to 36.3%. Days-to-cover ratio also picked up significantly with a 19% increase to 3.30. Trading volume in the stock was still relatively mild. Shares of Bed Bath & Beyond were down 6.4% in the five-day trading period covered.
NATIONAL BEVERAGE SHORT INTEREST UP FOR THIRD WEEK
Estimated short position in National Beverage (FIZZ) briefly spiked from 27% to 34% before settling yesterday at 32%. This marks the third consecutive rise in increased bearishness on the stock, with days-to-cover ratio also increasing by 19% to 3.05. Shares of National Beverage were down 4.8% in the five-day trading period covered.
STITCH FIX SHORT INTEREST AT HIGHEST LEVEL SINCE FEBRUARY
Estimated short position in Stitch Fix (SFIX) was also higher for the second consecutive week and now sits at a three-month high, rising another nine percentage points to 26.4%. Days-to-cover ratio slowly gained as well, rising to 2.7 from 2.3. The stock has been among the more volatile names this year with a late January high above $110 but has since been cut by nearly two thirds, with the most pronounced decline coming after its underwhelming earnings and guidance cut in early March. Shares of Stitch Fix were up 4.7% in the five-day trading period covered.
ROCKET PHARMACEUTICALS SHORT INTEREST IGNITES AFTER EARNINGS
Estimated short interest in Rocket Pharmaceuticals (RCKT) was little changed for much of the week before yesterday’s extreme liftoff from 19.1% to 30.2%. Days to cover on the stock also gained notably with a 54% increase to 14.1. Trading volume spiked in the stock the day after the company reported earnings on May 10. Shares of Rocket Pharmaceuticals were down 5.2% in the five-day trading period covered.
ESTIMATED SHORT INTEREST DOWN SHARPLY FOR AMC ENTERTAINMENT
Estimated short position in AMC Entertainment (AMC) highlights this week’s decliners, with the stock also spurring the broader market selling with a 42% rally during the five-day trading period covered. After peaking at 21.7% on Friday, short positioning declined to 19.8% for the past four trading sessions, with days-to-cover remaining little changed at 1.64.
CRITEO SHORT INTEREST SPIKES ABOVE 60%
Criteo (CRTO) was the most notable newcomer to the Ortex-driven screen as an extreme high-short-interest gaining stock this week with a 57 percentage point spike from 4% to 61%. Short positioning tracked flat for much of the year until last Thursday and then increased for 5 consecutive trading days. Shares of Criteo were down 4.3% in the five-day trading period covered.
Keywords: Short selling, short interest, days to cover, securities, lending, utilization, sentiment analysis, GameStop, AMC Entertainment, Criteo, Bed Bath Beyond, Stitch Fix, National Beverage