Top of hot stocks: Melrose Industries and Himax Technologies
Latest news
Top of hot stocks: Melrose Industries and Himax Technologies 21 March 2018London Reporter: Jenna Lomax
Image: Shutterstock
Melrose Industries led the FIS Astec Analytics hot stocks list for Europe, the Middle East, and Africa (EMEA) last week.
The UK-based manufacturing group operating in the energy, air management, security and ergonomics sectors saw its short interest volume increase to 245 percent back in January.
This added a further 31 percent over the last week, pushing short interest to 70 percent of the available supply, up from just 13 percent at the start of the year.
Following Melrose Industries was GKN. The UK-based engineering, aerospace and automotive parts manufacturer saw a small volume increase over the last eight days.
The volume increase saw short interest rise to just under 3 percent of the available supply.
FIS said: “Short sellers are steering well clear of GKN and indicate they expect the share price to stay elevated as the bidders push on.”
Making its debut on the Americas hot stocks list is Himax, the US-based semiconductor solution provider.
Last week also saw Himax’s shares close at $7.32, which according to FIS was because of “substantial returns to the short sellers, whose ongoing resilience will be tested as borrowing costs increased sharply last week”.
In addition, Stitch Fix made its debut on the list this week.
The online personalised styling company, saw utilisation drop from 100 to 67 percent as volumes dropped just 1.5 percent last week.
NO FEE, NO RISK 100% ON RETURNSIf you invest in only one securities finance news source this
year, make sure it is your free subscription to Securities Finance Times
Image: Shutterstock 