Top of hot stocks: TechnipFMC PLC and Match 21 February 2018London Reporter: Jenna Lomax
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TechnipFMC PLC (FTI) led the FIS Astec Analytics hot stocks list for Europe, the Middle East, and Africa (EMEA) for last week.
The firm, formed by the merger of oil services companies, Technip and FMC, saw short sellers close off 19 percent of their positions over the last seven days.
FIS said FTI will release its latest earnings report on 21 February and, given previous warnings about 2017 being a difficult year for the company, as low oil prices forced clients to curtail or delay their projects, expectations are not high.
Nomad Foods, a frozen foods company, came in second place. Since the start of December, its short interest volumes have increased some 220 percent.
Match Group, an internet dating provider operating under a multitude of brands such as Match, Tinder and PlentyOfFish, made its debut on the hot stocks list this week.
Short interest for Match grew rapidly, increasing by 51 percent since 1 February, which FIS said pushed utilisation initially up to 94 percent. It then dived back down to 80 percent as increased supply came to the market.
FIS states that this is because of more optimistic investors buying into the future of internet dating.
A fortnight after Tesla launched a car into space, the company featured second on FIS鈥檚 list for the Americas after its share price rose, then fell steeply over the last two weeks.
Volumes fell 8 percent in the first week, before bouncing back up 14 percent in the second, resulting in a net gain of around 5 percent.
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