Top of hot stocks: Norwegian Air Shuttle ASA
27 June 2018 London
Image: Shutterstock
Norwegian Air Shuttle ASA (NWC) led the FIS Astec Analytics hot stocks list for Europe, the Middle East, and Africa last week.
NWC, the Norway-based airline, saw an increase by midweek, with a fall back to give net reduction of some 2 percent overall.
Utilisation grew from 65 percent to 69 percent, suggesting a contraction in supply as some long investors took advantage of the price bounce and sold out, which indicates a potential lack of confidence that the shares can climb any further despite the interest from Germany.
Following NWC was Vallourec SA, the France-based steel tube manufacturer. In contrast to the prior three weeks, short interest volume did not rise any further, but instead remained flat over the week, while utilisation fell a net 3 percent from 89 percent to 86 percent as supply increased slightly.
FIS said: “With short sellers stubbornly retaining 86 percent of the available shares, and gaining a small amount over the last week as the shares dipped a net €0.07 to close the week at €5.26, the belief that Vallourec remains overvalued is still high.”
Camping World Holdings (CWH), aprovider of products and services for recreational vehicle enthusiasts, topped the Americas hot stocks list this week.
After its arrival to the market in October 2016, the company shares rose to a peak of $47.31 in January this year, before sliding sharply to a low of just $18.10.
Fis said: “Short sellers largely ignored Camping World until April, building positions more quickly after May, growing by 512 percent between April and last week’s close.”
The shares recovered a little during June, closing last week at $26.44.
Following CWH was Tesla, the US-based manufacturer of electric vehicles and solar power generation and storage machines.
Last week saw volume decrease 20 percent, bringing levels back to where they were exactly three months ago, while utilisation stood at 83 percent three months ago but closed last week at 86 percent.
NWC, the Norway-based airline, saw an increase by midweek, with a fall back to give net reduction of some 2 percent overall.
Utilisation grew from 65 percent to 69 percent, suggesting a contraction in supply as some long investors took advantage of the price bounce and sold out, which indicates a potential lack of confidence that the shares can climb any further despite the interest from Germany.
Following NWC was Vallourec SA, the France-based steel tube manufacturer. In contrast to the prior three weeks, short interest volume did not rise any further, but instead remained flat over the week, while utilisation fell a net 3 percent from 89 percent to 86 percent as supply increased slightly.
FIS said: “With short sellers stubbornly retaining 86 percent of the available shares, and gaining a small amount over the last week as the shares dipped a net €0.07 to close the week at €5.26, the belief that Vallourec remains overvalued is still high.”
Camping World Holdings (CWH), aprovider of products and services for recreational vehicle enthusiasts, topped the Americas hot stocks list this week.
After its arrival to the market in October 2016, the company shares rose to a peak of $47.31 in January this year, before sliding sharply to a low of just $18.10.
Fis said: “Short sellers largely ignored Camping World until April, building positions more quickly after May, growing by 512 percent between April and last week’s close.”
The shares recovered a little during June, closing last week at $26.44.
Following CWH was Tesla, the US-based manufacturer of electric vehicles and solar power generation and storage machines.
Last week saw volume decrease 20 percent, bringing levels back to where they were exactly three months ago, while utilisation stood at 83 percent three months ago but closed last week at 86 percent.
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