Top of hot stocks: Elringklinger AG, Mimedx Group and Li & Fung Limited
29 November 2018 London
Image: Shutterstock
Elringklinger AG topped the FIS Astec Analytics hot stocks list for Europe, the Middle East, and Africa last week.
Elringklinger, a Germany-based automotive parts supplier, last appeared on the hot stocks list in April as the shares bounced back from near 12-month lows.
Short sellers had been holding 98 percent of the shares available in March, when volumes peaked, and still held 95 percent in April, despite a 26 percent drop in volume, suggesting a sell-off by large institutional investors as the shares began their decline.
Since April, that trend has reversed as volume dropped some 17 percent, but utilisation fell by 53 percent, closing last week at 44 percent.
Following Elringklinger was TechnipFMC plc (FTI), an oil services company formed by the merger of Technip and FMC.
Over the last two weeks, the share price has dropped some 12 percent, a new 12-month low.
FIS said this suggests those buying in may have been a little premature.
Topping the Americas hot stocks list was Mimedx Group Inc. (MDXG), a developer and processor of regenerative biomaterial products.
The prior week saw a collapse in its short interest volume, down almost 40 percent, and this week has seen even more change.
Volume fell a further 45 percent last week, but utilisation fell only 6 points to close the week at 62 percent.
Topping the Asia-Pacific hot stocks was Li & Fung Limited, a China-based wholesaler and distributor.
By October, its share had collapsed by 65 percent.
FIS said: “The shares have recovered a little, closing last week, but short sellers have not been put off, and continue to build their positions in expectation of further issues for Li & Fung.”
Elringklinger, a Germany-based automotive parts supplier, last appeared on the hot stocks list in April as the shares bounced back from near 12-month lows.
Short sellers had been holding 98 percent of the shares available in March, when volumes peaked, and still held 95 percent in April, despite a 26 percent drop in volume, suggesting a sell-off by large institutional investors as the shares began their decline.
Since April, that trend has reversed as volume dropped some 17 percent, but utilisation fell by 53 percent, closing last week at 44 percent.
Following Elringklinger was TechnipFMC plc (FTI), an oil services company formed by the merger of Technip and FMC.
Over the last two weeks, the share price has dropped some 12 percent, a new 12-month low.
FIS said this suggests those buying in may have been a little premature.
Topping the Americas hot stocks list was Mimedx Group Inc. (MDXG), a developer and processor of regenerative biomaterial products.
The prior week saw a collapse in its short interest volume, down almost 40 percent, and this week has seen even more change.
Volume fell a further 45 percent last week, but utilisation fell only 6 points to close the week at 62 percent.
Topping the Asia-Pacific hot stocks was Li & Fung Limited, a China-based wholesaler and distributor.
By October, its share had collapsed by 65 percent.
FIS said: “The shares have recovered a little, closing last week, but short sellers have not been put off, and continue to build their positions in expectation of further issues for Li & Fung.”
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