5 Short Squeeze Candidates To Watch: Indonesia Energy Tops The List, Two Other Oil Related Stocks Join Leaderboard

Potential short squeeze plays gained steam in 2021, with new retail traders looking for the next huge move.

A short squeeze can occur when a heavily shorted stock rises in value instead of falling. Short sellers could be looking to close out their position and can face a loss if they have to buy back the shares they initially borrowed at a higher price.

A squeeze can occur when short sellers are forced into buying to cover their position, which can cause shares to move up higher on many occasions.

Fintel Data: Data from Fintel, which requires a subscription, provides a look at several of the top shorted stocks and data on how likely a short squeeze is to occur.

Here’s a look at Fintel’s top five short squeeze candidates for the week of Mar. 14.

Indonesia Energy Corp: Oil and gas exploration company Indonesia Energy Corp INDO rejoins the leaderboard and tops the list for the week. Fintel shows short interest up 432% in the recent month and a total of 80% of the company’s float now short. The cost to borrow on Indonesia Energy Corp shares is 771%, one of the highest on record. In February, when Indonesia Energy was third on the leaderboard, a reported 14.5% of the total float was short.

Enservco Corp: Oil and gas services company Enservco Corp ENSV joins the short squeeze leaderboard in second place. The stock was outside the top 50 names a week ago. Short interest is up 414% over the last month. Thirty-two percent of Enservco Corp’s float is now short, according to Fintel. The cost to borrow on Enservco shares is 245%.

Related Link: AST Attempts To Bring 5G From Space: What To Know About The SPAC Deal 

Imperial Petroleum: International shipping transportation company Imperial Petroleum IMPP ranks third on the Fintel leaderboard. Short interest in Imperial Petroleum was up 1,500% in the latest month report. Fintel shows 46.9% of the company’s float short. The cost to borrow on Imperial Petroleum shares stands at 164.9%.

AppHarvest: Indoor farming company AppHarvest Inc APPH is the lone carryover from last week’s top five short squeeze candidates. Short interest is 23.2% of shares, slightly elevated from last week’s 23% when AppHarvest was third on the leaderboard. The cost to borrow on shares is 50.3%, down from the prior report’s 60%.

AST SpaceMobile: Space communications company AST SpaceMobile ASTS ranks fifth on the leaderboard, moving up from 18th the week before. Fintel shows 17.7% of the company’s float short and a cost to borrow of 38.8%. Shares of AST SpaceMobile rocketed higher last week on a new launch partnership signed with SpaceX.

Posted In: FintelFintel short squeezeoil stocksShort Squeezeshort squeeze candidatesShort squeeze ideasspace stocksNewsPenny StocksSmall CapTrading Ideas

Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.

All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.

Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.

Rate collection and criteria: Click here for more information on rate collection and criteria.