Top of hot stocks: SMA Solar Technology and Roku
07 March 2018 London
Image: Shutterstock
SMA Solar Technology led the FIS Astec Analytics hot stocks list for Europe, the Middle East, and Africa (EMEA) for last week.
SMA Solar, the Germany-based developer of photovoltaic systems for the solar power industry,
saw its short interest utilisation levels increase from around 72 percent to peak at 82 percent in January, before falling off steeply in February, closing last week at 63 percent.
Following SMA Technology on the hot stocks list was Ocado Group which was in the number three slot last week.
Ocado, the UK-based grocery delivery company, saw short sellers continue to close out their short positions, reducing borrowing volumes by almost 11 percent.
The share price has also continued its previous trajectory, adding a further 4 percent over the last week.
Roku, the US-based television streaming platform, was the top pick for the Americas.
in the two weeks leading up Roku’s earnings report, short sellers added 26 percent by volume to their outstanding positions, but more recently, they have added a further 34 percent, indicating that they expect further issues to pressurise the Roku share price.
Following Roku was Frontier Communications, a US-based telecommunication provider, which saw its utilisation of 100 percent for much of January and February, drop to 95 percent over the last week despite a 7 percent increase in short interest by volume.
FIS said: “With significant borrowing demand continuing, despite the 83 percent loss over the last 12 months, short sellers believe there are potentially more gains yet to come.”
SMA Solar, the Germany-based developer of photovoltaic systems for the solar power industry,
saw its short interest utilisation levels increase from around 72 percent to peak at 82 percent in January, before falling off steeply in February, closing last week at 63 percent.
Following SMA Technology on the hot stocks list was Ocado Group which was in the number three slot last week.
Ocado, the UK-based grocery delivery company, saw short sellers continue to close out their short positions, reducing borrowing volumes by almost 11 percent.
The share price has also continued its previous trajectory, adding a further 4 percent over the last week.
Roku, the US-based television streaming platform, was the top pick for the Americas.
in the two weeks leading up Roku’s earnings report, short sellers added 26 percent by volume to their outstanding positions, but more recently, they have added a further 34 percent, indicating that they expect further issues to pressurise the Roku share price.
Following Roku was Frontier Communications, a US-based telecommunication provider, which saw its utilisation of 100 percent for much of January and February, drop to 95 percent over the last week despite a 7 percent increase in short interest by volume.
FIS said: “With significant borrowing demand continuing, despite the 83 percent loss over the last 12 months, short sellers believe there are potentially more gains yet to come.”
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