Fingerprint marked by short sellers
12 October 2016 London
Image: Shutterstock
Swedish biometric technology developer Fingerprint Cards has seen an all-time high in short interest, according to FIS Astec Analytics.
The FIS Astec Analytics newsletter suggested that, having seen a ten-fold growth in value throughout 2015, Fingerprint Cards is now a target for short sellers who deem the company to be overvalued.
The firm is also reeling from the announcement on 10 October that Johan Carlström, a major shareholder, is leaving his position as business developer.
Company shares have dropped by 5 percent, falling below SEK100 (€10.27) last week to close at SEK 95.4 (€9.8), while short sellers added a further 11 percent to their short positions.
Borrow volume has dropped 20 percent, however, a fact that FIS Astec Analytics attributed to lucrative borrowing fees being paid for the highly shorted share.
In the Americas, Tesla Motors remained a hot stock for short selling. While short interest reached a 12-month low in September as shares surpassed the $200 mark, the adding of new short selling positions meant there was a 10 percent uptick towards the end of last week.
FIS Astec Analytics pointed to the potential of Tesla acquiring SolarCity, saying this means “it will be a tough call to decide where Tesla shares are headed next”.
In the Asia Pacific region, Tingyi Holdings Corporation, a producer of food and non-alcoholic drinks has attracted increasing short interest.
In the 12 months to August 2016, Tingyi’s share price dropped from HKD $14.8 to HKD 6.51, and short interest more than doubled. However, the share price has started to recover, and short selling advance has been halted at 55 percent of available supply.
According to FIS Astec Analytics, this will be a stock to keep an eye on over the next few weeks.
The FIS Astec Analytics newsletter suggested that, having seen a ten-fold growth in value throughout 2015, Fingerprint Cards is now a target for short sellers who deem the company to be overvalued.
The firm is also reeling from the announcement on 10 October that Johan Carlström, a major shareholder, is leaving his position as business developer.
Company shares have dropped by 5 percent, falling below SEK100 (€10.27) last week to close at SEK 95.4 (€9.8), while short sellers added a further 11 percent to their short positions.
Borrow volume has dropped 20 percent, however, a fact that FIS Astec Analytics attributed to lucrative borrowing fees being paid for the highly shorted share.
In the Americas, Tesla Motors remained a hot stock for short selling. While short interest reached a 12-month low in September as shares surpassed the $200 mark, the adding of new short selling positions meant there was a 10 percent uptick towards the end of last week.
FIS Astec Analytics pointed to the potential of Tesla acquiring SolarCity, saying this means “it will be a tough call to decide where Tesla shares are headed next”.
In the Asia Pacific region, Tingyi Holdings Corporation, a producer of food and non-alcoholic drinks has attracted increasing short interest.
In the 12 months to August 2016, Tingyi’s share price dropped from HKD $14.8 to HKD 6.51, and short interest more than doubled. However, the share price has started to recover, and short selling advance has been halted at 55 percent of available supply.
According to FIS Astec Analytics, this will be a stock to keep an eye on over the next few weeks.
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