Top of hot stocks: TechnipFMC and Tesla
05 September 2018 London
Image: Shutterstock
TechnipFMC led the FIS Astec Analytics hot stocks list for Europe, the Middle East, and Africa last week.
TechnipFMC, the oil services company formed by the merger of Technip and FMC, saw its share price fall sharply ahead of the August dividend date, dropping 12 percent by the middle of the month, before recovering to close last week down a net 2 percent on the month.
A recent short interest volume advance of 56 percent causing just a 5 percent increase in utilisation, reflecting a significant growth in supply as large funds buy into the recovering share.
Following TechnipFMC was Meyer Burger Technology. The Switzerland-based semiconductor manufacturer specialising in the solar power industry.
Utilisation stood at 86 percent at the start of August, but closed last week at over 92 percent, a rise of more than 7 percent.
Tesla topped the Americas hot stocks last week. By volume of shares, interest peaked back in May, and has declined a net 31 percent since.
FIS said: “What is for certain, is that while the current CEO’s erratic behavior continues, that volatility will remain.”
Following Tesla was Dropbox Inc, the US-based internet storage and file sharing service.
Short sellers were relatively slow to build positions earlier in the year, but increased their exposure rapidly post June as the shares faltered, adding 360 percent by volume by late August.
This pushed utilisation up from less than 40 percent to just under 100 percent, enabling the short sellers to take full advantage of the shares fall.
TechnipFMC, the oil services company formed by the merger of Technip and FMC, saw its share price fall sharply ahead of the August dividend date, dropping 12 percent by the middle of the month, before recovering to close last week down a net 2 percent on the month.
A recent short interest volume advance of 56 percent causing just a 5 percent increase in utilisation, reflecting a significant growth in supply as large funds buy into the recovering share.
Following TechnipFMC was Meyer Burger Technology. The Switzerland-based semiconductor manufacturer specialising in the solar power industry.
Utilisation stood at 86 percent at the start of August, but closed last week at over 92 percent, a rise of more than 7 percent.
Tesla topped the Americas hot stocks last week. By volume of shares, interest peaked back in May, and has declined a net 31 percent since.
FIS said: “What is for certain, is that while the current CEO’s erratic behavior continues, that volatility will remain.”
Following Tesla was Dropbox Inc, the US-based internet storage and file sharing service.
Short sellers were relatively slow to build positions earlier in the year, but increased their exposure rapidly post June as the shares faltered, adding 360 percent by volume by late August.
This pushed utilisation up from less than 40 percent to just under 100 percent, enabling the short sellers to take full advantage of the shares fall.
NO FEE, NO RISK
100% ON RETURNS If you invest in only one securities finance news source this year, make sure it is your free subscription to Securities Finance Times
100% ON RETURNS If you invest in only one securities finance news source this year, make sure it is your free subscription to Securities Finance Times
