Logitech International SA (LOGN) topped the FIS Astec Analytics hot stocks list for Europe, the Middle East, and Africa last week.
Last appearing a month ago, LOGN, the Swiss-based computer peripherals manufacturer, had made an appearance on the hot stocks list as short interest had begun to build, which FIS said signalled “an expectation that the shares may be reaching a ceiling”.
As of last week, its shares have fallen some 24 percent since the short sellers began expanding their positions.
Following LOGN was Meyer Burger Technology AG (MBTN) which moved up one place from last week.
The Switzerland-based semiconductor manufacturer saw its short interest volume falls by over 8 percent.
Its shares had advanced almost 30 percent by midweek, before falling back to close the week up 22 percent.
FIS said: “The price bump potentially prompted the sale of shares by the lenders, potentially in the belief that they should close out their positions before the shares fall back again.”
Topping the Americas hot stocks list was Sirius XM Holdings Inc. (SIRI).
Absent from the hot stocks list since the end of September, Sirius Holdings, the US-based, subscription-driven satellite television channel provider, saw utilisation rise through the 90 percent level last week, causing borrowing costs to more than double as demand intensified.
Of this, FIS stated: “New short sellers appear to have been attracted by the possibility of further gains should the shares fall back again, making Sirius an interesting watch.”
Topping the Asia-Pacific hot stocks list was BYD Company Limited (BYD).
The China-based manufacturer of green energy vehicles, was back again this week as a major policy meeting took place on 9 November to discuss government support for the new energy vehicle industry.
Short interest volume, which had been rising, edged up just half of 1 percent before falling back, recording a net fall of 8 percent over the last week.
FIS said: “If the meeting brings renewed government support, the shares may head higher once more, but with over 78 percent of the shares borrowed, a significant negative expectation of the long-term value of BYD remains.”
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