Top of hot stocks: Randgold Resources, Tilray and Zhongan Online P&C Insurance
26 September 2018 London
Image: Shutterstock
Rangold Resources Limited (RRS) led the FIS Astec Analytics hot stocks list for Europe, the Middle East, and Africa.
The UK-based gold miner is currently the subject of a purchase by Barrick Gold of Canada, and over the last 12 months, RRS has seen its share price fall from £7.49 to a low of £4.60 around two weeks ago, a fall of some 39 percent.
Volumes have ballooned to push utilisation from 3 percent to 13 percent at last week’s close. FIS said that while this is not a high level, those holding short positions were not put off by the shares recovering on the news of $18.3 billion bid from Barrick to close the week at £4.92.
Following RRS was Thomas Cook Group, the UK-based hotels, travel, and leisure company. FIS said that the unusually good summer in the UK meant that many stayed home to enjoy the weather taking the shine out of the most important season of the year for Thomas Cook.
Over the last 12 months, short sellers only increased their short positions by a net 1 percent. However, FIS revealed that compared with two years ago, short interest volume is 79 percent lower.
During the last year, short interest volume decreased, recording zero levels as recently as mid-August before volumes jumped back to levels seen 12 months ago.
The share price had fallen some 36 percent over the last year but dropped a further 20 percent on the profits warning.
Tilray topped the Americas hot stocks last week following its debut on the hot stocks list two weeks ago.
FIS’s first cannabis stock saw shares bounce wildly from highs to lows this week. The week prior saw the shares close at $109.05, hitting $214.06 midweek, a rise of 96 percent.
Tilray then closed the week at $123, a net gain of 13 percent, exhibiting some serious volatility.
Featuring its third consecutive week in the FIS hot stocks list was Zscaler, a cloud-based software security company. The company’s shares continue to fall, moving from $42.64 to a low of $37.83 before closing the week at $40.13, down a net 6 percent.
In the Asia Pacific region, Zhongan Online P&C Insurance featured top as short interest volumes record a new high. Zhongan, who made its debut on the hot stocks list in March, has seen its shares fall another 50 percent since then, closing last week at HK$34.45, rewarding the short sellers and punishing the long investors who spent so heavily in March.
Next on the list was BYD Company, who retained the same spot as last week.
Last week has seen a continuation of the fall in short interest volume, dropping some 3 percent over the last week.
However, in contrast to utilisation staying level at 81 percent through the prior week, this week saw utilization fall 7 percent, more than twice the rate volumes fell.
FIS suggested that there is a rise in market supply, potentially due to large institutional funds buying into BYD.
The UK-based gold miner is currently the subject of a purchase by Barrick Gold of Canada, and over the last 12 months, RRS has seen its share price fall from £7.49 to a low of £4.60 around two weeks ago, a fall of some 39 percent.
Volumes have ballooned to push utilisation from 3 percent to 13 percent at last week’s close. FIS said that while this is not a high level, those holding short positions were not put off by the shares recovering on the news of $18.3 billion bid from Barrick to close the week at £4.92.
Following RRS was Thomas Cook Group, the UK-based hotels, travel, and leisure company. FIS said that the unusually good summer in the UK meant that many stayed home to enjoy the weather taking the shine out of the most important season of the year for Thomas Cook.
Over the last 12 months, short sellers only increased their short positions by a net 1 percent. However, FIS revealed that compared with two years ago, short interest volume is 79 percent lower.
During the last year, short interest volume decreased, recording zero levels as recently as mid-August before volumes jumped back to levels seen 12 months ago.
The share price had fallen some 36 percent over the last year but dropped a further 20 percent on the profits warning.
Tilray topped the Americas hot stocks last week following its debut on the hot stocks list two weeks ago.
FIS’s first cannabis stock saw shares bounce wildly from highs to lows this week. The week prior saw the shares close at $109.05, hitting $214.06 midweek, a rise of 96 percent.
Tilray then closed the week at $123, a net gain of 13 percent, exhibiting some serious volatility.
Featuring its third consecutive week in the FIS hot stocks list was Zscaler, a cloud-based software security company. The company’s shares continue to fall, moving from $42.64 to a low of $37.83 before closing the week at $40.13, down a net 6 percent.
In the Asia Pacific region, Zhongan Online P&C Insurance featured top as short interest volumes record a new high. Zhongan, who made its debut on the hot stocks list in March, has seen its shares fall another 50 percent since then, closing last week at HK$34.45, rewarding the short sellers and punishing the long investors who spent so heavily in March.
Next on the list was BYD Company, who retained the same spot as last week.
Last week has seen a continuation of the fall in short interest volume, dropping some 3 percent over the last week.
However, in contrast to utilisation staying level at 81 percent through the prior week, this week saw utilization fall 7 percent, more than twice the rate volumes fell.
FIS suggested that there is a rise in market supply, potentially due to large institutional funds buying into BYD.
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