Top of hot stocks: Daimler and Tesla
11 July 2018 London
Image: Shutterstock
Daimler AG led the FIS Astec Analytics hot stocks list for Europe, the Middle East, and Africa last week (ending 6 July).
Missing from the hot stocks list since May 2017, Daimler, the Germany-based manufacturer of trucks, cars and vans, saw its shares mount a recovery recently.
FIS found that short sellers have been reducing their positions since a February surge and now hold less than 10 percent of the available shares.
Last week saw the shares move off a 12-month low, closing the week up some 6 percent.
Following Daimler was Meyer Burger, a Switzerland-based semiconductor manufacturer specialising in the solar power industry. Its utilisation has recently risen from 85 percent to 90 percent.
FIS suggested the recent recovery in the share price has only attracted more short interest.
Tesla topped the Americas hot stocks list this week after being absent for three weeks.
Tesla shares have been as high, but closed last week down at $311, a drop of some 16 percent, yet 13 percent above where it was six weeks ago.
Short sellers have been a little more consistent, said FIS, closing out 30 percent of their positions since hitting a 12-month peak in early May, but have added back a further 7 percent since.
Following Tesla was Transenterix, a US-based medical device company.
Last week saw its short interest volume continue to increase, adding some 11 percent to hit a 12-month peak.
By contrast, utilisation fell 8 percent to close the week at 74 percent, as new supply came on to the market.
Missing from the hot stocks list since May 2017, Daimler, the Germany-based manufacturer of trucks, cars and vans, saw its shares mount a recovery recently.
FIS found that short sellers have been reducing their positions since a February surge and now hold less than 10 percent of the available shares.
Last week saw the shares move off a 12-month low, closing the week up some 6 percent.
Following Daimler was Meyer Burger, a Switzerland-based semiconductor manufacturer specialising in the solar power industry. Its utilisation has recently risen from 85 percent to 90 percent.
FIS suggested the recent recovery in the share price has only attracted more short interest.
Tesla topped the Americas hot stocks list this week after being absent for three weeks.
Tesla shares have been as high, but closed last week down at $311, a drop of some 16 percent, yet 13 percent above where it was six weeks ago.
Short sellers have been a little more consistent, said FIS, closing out 30 percent of their positions since hitting a 12-month peak in early May, but have added back a further 7 percent since.
Following Tesla was Transenterix, a US-based medical device company.
Last week saw its short interest volume continue to increase, adding some 11 percent to hit a 12-month peak.
By contrast, utilisation fell 8 percent to close the week at 74 percent, as new supply came on to the market.
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