Fintel’s short interest data identifies candidates for the week of September 19
NEW YORK, CANADA, September 19, 2021 /EINPresswire.com/ — Fintel.io, a provider of advanced research tools for data-driven investors, has developed a mathematical model that provides investors and traders with data that helps quantify the short squeeze risk for a company. This model takes into account a number of factors that contribute to short squeezes, including relative short interest, borrow fee rates, trading volume, and others.
The Canadian Short Squeeze Leaderboard provides a leaderboard ranking of Canadian companies with the highest Short Squeeze Score so traders can easily identify companies with the highest likelihood. For traders who want to find short squeeze opportunities before they happen, the Short Squeeze leaderboard is an ideal tool.
Below are notable Canadian Short Squeeze candidates as of September 19, 2021 at 10:00pm EST:
* IMV / IMV Inc (98.18)
IMV debuts at number one this week with a short interest % float of 0.94% and a borrow fee rate of 27%. The company’s share price has been in a long decline since July 2020, dropping steadily from 7.94 to 1.64 a few weeks ago, before bouncing back and closing at 2.25 last week. Raw short interest has climbed from 197K shares at the end of June to 571K shares at the end of August, an increase of 189%. If the price momentum continues to climb, the current cost to borrow could put pressure on short sellers and force some to cover, helping to drive the price up even further.
* EFL / Electrovaya, Inc. (97.77)
Electrovaya comes in at number two this week, with a short interest % float of 0.63% and a borrow fee rate of 37.21%. Raw short interest reported by the IIROC is 465K shares, which is around the same level it’s been at for most of the year. Like IMV, the price has been in a long-term decline, dropping from its high of 2.50 / share to 0.83 / share before bouncing back this last week and closing at 1.00 / share. So far, it appears short sellers are profiting handily from their positions, but an ongoing reversal of momentum could change the situation, given the elevated cost to borrow.
* BNE / Bonterra Energy Corp (97.06)
With a borrow fee rate of 14.67%, BNE comes in at number three on our list this week. Unlike IMV and EFL, Bonterra Energy’s share price has had an incredible run during the last year, climbing almost 600% over the year, from a low of 1.02$ / share to a high of 6.06$ / share before closing at 4.62 / share last week. During this time, raw short interest has climbed from 148K shares to 204K shares, an increase of 37%. It appears that short sellers are expecting a reversal of fortune for BNE but it remains to be seen if and when that will happen.
* ETX / Etrion Corporation (96.91)
Fourth on this week’s list is Etrion Corporation, an independent solar power producer. The cost to borrow ETX shares is 27.73% but our prime broker reports no shares are currently available to borrow, putting this company at the top of the hard to borrow list. Raw short interest reported by IIROC jumped from just 8,582 shares to 582K shares at the end of August, a colossal jump of 6,690%. That said, the share price of ETX gapped down on August 15, from a high of 0.46 / share to a low of 0.9 / share. It is unclear if recent short sellers profited from this gap, but based on current numbers, they certainly expect future trouble for the company.
* GPR / Great Panther Mining Ltd. (96.84)
Finishing this week’s list is Great Panther Mining Co, with a borrow fee rate of 15.43% and a short interest % float of just 0.42%. Like other companies on this week’s list, the raw short interest in GPR has increased significantly recently, climbing from 922K shares at the end of July to 1.53M shares at the end of August, an increase of 67% in just one month.
Short Squeeze Scores scoring model ranges from 0 to 100, with 100 being most likely, relative to its peers.
The Short Squeeze Leaderboard also compiles data like Short Interest % Float, Change in Volume, Change in Price, and Borrow Fee Rate into an easy-to-use leaderboard for investors to reference when making decisions.
For more information visit https://fintel.io/
Fintel.io is a leading equity research platform designed to help data-driven investors make better investing decisions. Fintel provides deep analytics on a variety of market data, including fund ownership, insider trading activity, short interest, and company financials. Fintel currently tracks over 30,000 funds and over 63,000 securities traded worldwide. Information includes fund holdings, fund sentiment, financial data, and regulatory filings. Fintel was founded by Wilton Risenhoover.
Fintel.io developed Finpedia.co as another resource for retail investors. Finpedia is a financial wiki that aims to develop thorough and complete research reports on every publicly traded company in the world. These research reports are crowdsourced from public documents such as regulatory filings and news reports. For more information visit finpedia.co.
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Source: EIN Presswire