Six Stocks With Notable Short Selling Activity

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Sungard is out with their latest list of
six notable stocks with short selling activity. The firm uses its proprietary Astec Analytics which "provides up-to-date, intraday short selling market color via securities lending analytics, helping users gauge changes in investor sentiment." Allergan: Patent Divesture In Focus Shares of Allergan PLC AGN continued rising during Tuesday's trading session after the company previously announced it will divest its generic drug business to Israel-based Teva Pharmaceutical Industries Ltd (ADR) TEVA. Astec Anlytics data showed that short covering was taking place last week ahead of the deal, with borrowing volumes falling seven percent. Fitbit: Short Selling Leveling Out Sungard noted that shares of Fitbit Inc FIT began to "edge lower" last week. Meanwhile, the company's Astec Analytics data suggested that short selling activity "finally started to level out," although borrowing volumes are still 57 percent higher now than it was on July 1. Advanced Micro Devices: Soft Earnings Reaction Shares of Advanced Micro Devices, Inc. AMD continue its post-earnings sell-off. Astec Analytics data suggested that the sell-off in the cash market was "matched by strong demand" by investors looking to borrow shares – with the cost of borrowing rising from just four percent to almost 50 percent in the past week. Box: Pressure Following Lock-Up Expiration Box Inc BOX garnered investor attention with the expiration of a share lock-up on Wednesday. Astec Analytics data pointed to "continued interest" by short sellers with the number of shares being borrowed rising 43 percent over the past three weeks. Etsy: Significant Covering Finally, Astec Analytics data hinted that "significant" short covering was occurring in shares of Etsy Inc ETSY with borrowing volumes falling 28 percent and the cost of borrowing falling from nearly 50 percent to just over 30 percent.
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Posted In: Analyst ColorAnalyst RatingsAstec Analyticsshort sellingSunGard
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