FIS Astec Analytics’ list of the hottest stocks among short sellers got a new member this past week. According to the firm’s latest report, Snap Inc SNAP 1.69% now has some of the most bearish sentiment among short sellers. Here’s a summary of the firm’s notable short selling data.
Top Pick: Snap
After initially peaking as high as $27.09 in its first two days of trading, short sellers have now driven Snap back down under $21. The pullback is in part due to the slow accumulation of Snap shares that are available to short. FIS Astec Analytics reports that Snap borrowing fees are down 75 percent as it has become easier to borrow.
1. GoPro
Adventure camera and drone maker GoPro Inc GPRO 0.72% remains at the top of this week’s list of popular shorts. FIS Astec Analytics notes that short interest actually declined by about 2 percent last week even though the stock dipped below $8 for the first time. These numbers indicate the recent selling pressure may have come from institutional investors abandoning their long positions rather than short sellers piling on.
2. Weight Watchers International
Weight Watchers International, Inc. WTW 0.99% is still an extremely popular short play despite a 45 percent reduction in short interest over the past 10 days. Short interest now stands at 63 percent of available supply, down from nearly 97 percent on February 28.
3. Frontier Communications
In the past week, the final Wall Street analyst backing Frontier Communications Corp FTR 7.73% finally threw in the towel and slashed the stock’s price target from $7.50 to $2.50. Short interest climbed another 4 percent on the week to fresh 52-week highs.
4. Sirius XM Holdings
Sirius XM Holdings Inc SIRI 0.58% has gotten quite a Buffett bump in the past month, jumping 13.4 percent. With the stock now trading at new five-year highs, short sellers aren’t buying it. In fact, short interest climbed 4.5 percent last week and now stands at 97 percent of available supply.
5. Sears Holdings
Sears Holdings Corp SHLD 3.79% is seemingly a perpetual member of FIS Astec Analytics’ short seller favorites lists. Ironically, Sears is…
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