Short Selling: The Hottest U.S.-Listed Stocks From A Securities Lending Perspective

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  • SunGard's Astec Analytics looks into short-selling activity.
  • This week’s top pick from a securities lending perspective is Yahoo! Inc. YHOO.
  • Other stocks seeing plenty of short-selling activity are, same as last week, Ambarella Inc AMBA, SolarCity Corp SCTY and Chesapeake Energy CorporationCHK.
  • SunGard's Astec Analytics provides intraday short-selling market data via securities lending analytics. In a recent note sent to customers, the firm shared a "roundup of some of the hottest stocks from a securities lending perspective."

    Related Link: Last Week, Short Sellers Were Betting Against These 6 U.S. Listed Stocks

    Below is a look at the top stocks in the Americas (from a security lending perspective), according to SunGard's Karl Loomes.

    Yahoo

    Yahoo made it to Astec’s list for the first time this week, “after its planned spin-off of its $24 billion stake in Alibaba seemingly came under fire as U.S. tax regulators, without naming Yahoo specifically, said this type of deal raises concerns.”

    Moreover, Looms noted, investors should remember that last week the Internet search company had a request for a private letter ruling denied. This “helped see pressure on the company’s stock through most of this month,” he added.

    Furthermore, Astec’s data suggest short sellers have been increasingly bearish on Yahoo, with the number of shares being borrowed having surged 12 percent since the start of the month.

    Ambarella

    Ambarella fell one position in Astec’s list in relation to last week. The report assured, "The comments regarding falling demand for its chips from the wearable technology market continue to dominate, though its stock did manage to claw back some of the losses it made during the week."

    Securities lending data suggest a "similar drop off in demand to borrow the stock after the initial surge following the comments, with the cost of borrowing falling from almost 30 percent to less than 14 percent during the week."

    SolarCity

    SolarCity also feel one position in Loomes’ list over the week. After the solar panel maker announced plans for Kauai, Hawaii. "It plans to build a 13-megawatt array on the Hawaiian island of Kauai, including a battery farm that will store excess electricity generated during the day, to be used at night," the stock managed to deliver some mild gains, even in spite of several shares sales from senior insiders.

    Meanwhile, borrowing figures suggest "growing optimism from the short side – volumes falling 19 percent since the start of the month."

    Other Heavily Shorted Stocks

    Three other stocks in Astec’s short-interest list are:

    • Fitbit Inc FIT
    • Chesapeake Energy Corporation
    • MannKind Corporation MNKD

    Disclosure: Javier Hasse holds no stakes in any of the securities mentioned above.

    Image Credit: Public Domain
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    Posted In: Analyst ColorShort IdeasTop StoriesAnalyst RatingsTechTrading IdeasAlibabaAstec AnalyticsKarl LoomesSunGard
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