Astec Analytics Discusses Sunedison's New Real-Time Short Interest Data

Karl Loomes, market analyst for SunGard's Astec Analytics, commented on Sundedison Inc's (NYSE: SUNE) short interest heading in to earnings.

Speaking to Benzinga, Loomes said that based on securities lending data from Astec Analytics, all indications suggests short sellers were "optimistic" in the runup to Sunedison's latest earnings numbers on Wednesday, with the number of shares being borrowed falling 9 percent since last Thursday.

Loomes noted that some market participants have been covering their positions before Wednesday's results which may have "offered a positive move."

Loomes also said that "short sellers have seemingly been growing more positive" over the company's outlook. The analyst added that this trend became apparent as its share price began to climb in late January and early February.

"Our data shows that all-told the number of Sunedison shares being borrowed has now fallen 20 percent since its peak on January 29, which taken in context of the moves in cash market, would certainly hint at short sellers being unwilling to make bets on the downside for Sunedison any time soon."