JC Penney Tops This Week's List Of Hottest Short-Selling Ideas

FIS Astec Analytics has released its latest weekly report on the hottest stocks among short sellers from the previous week. Here’s a look at which stocks made this week’s list.

Top Pick: JC Penney

JC Penney Company Inc JCP shares are already down more than 50 percent from their 52-week highs, but short sellers see more downside ahead. FIS Astec reports that short sellers upped their position in the stock by 6.5 percent in the past week.

1. Under Armour

It’s not just iconic brands like JC Penney that are suffering in the retail sector, and short sellers are betting that Under Armour Inc UAA shares will continue to feel the pain. Volume of short interest climbed 13 percent last week, while the proportion of available shares borrowed remains at 100 percent. FIS Astec said this dynamic suggests an uptick in supply and hints at the possibility that certain funds may be buying the stock on dips.

2. Twilio

Twilio Inc TWLO shares hit a new all-time low last week, but short sellers are betting that the company’s poor first-quarter performance means there is even more downside ahead. The number of shares held short jumped 29 percent last week and now stands at 98 percent of available supply.

3. Impinj

Short interest in IMPINJ Inc PI actually declined 29 percent by volume after the company reported Q1 earnings last week. The stock hit fresh all-time highs after reporting an earnings beat that sent shares higher by 10 percent.

4. GoPro

GoPro Inc GPRO reported yet another quarter of losses in Q1, which only served to embolden the stock’s short sellers. FIS Astec reports GoPro short interest jumped another 18 percent in the past week.

5. Fred’s

Short interest as a percentage of available shares in Fred’s, Inc. FRED briefly touched the maximum of 100 percent last week before finishing at 96.7 percent. Short sellers clearly have little confidence in the discount store chain’s turnaround efforts.

Related Links:

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Image Credit: By Michael Rivera (Own work) [CC BY-SA 3.0 (http://creativecommons.org/licenses/by-sa/3.0)], via Wikimedia Commons