With the recent attention being given to Health Care, we used the Square One system to browse and analyze short interest trends in that sector.
We noticed that in the Health Care Equipment & Services sub-sector, some extreme increases in short interest have taken place in micro-cap stocks.
Asking the system to rank stocks in that sector by new shorting (as a percentage of shares outstanding) we saw that in the top 10 stocks, only one had a market capitalization of over $250M. (Although such micro-cap stocks make up roughly a third of the total industry group.)
Comparison of micro-cap shorting in other sectors shows this as exceptional, but a glance at the SISO charts for the top ten stocks speak for themselves:-
(The short interest as a % of shares outstanding is plotted in red against time, with two time-points per month, from May 26th to July 10th. The bars in gray show the average for the stocks sub-industry.)
American Dental Partners |
Rockwell Med. Technologies |
Bioscrip Inc. |
Cutera Inc. |
America Service Group Inc. |
Allied Healthcare Intl. Inc. |
Rochester Medical Corp. |
Align Technology Inc. |
Utah Medical Products Inc. |
Electro-Optical Sciences Inc. |