Salvatore Ferragamo and Mimedx Group feature in hot stocks list
28 February 2018 London
Image: Shutterstock
Italy-based fashion house Salvatore Ferragamo led the FIS Astec Analytics hot stocks list for Europe, the Middle East, and Africa (EMEA) for last week.
Since December 1, Salvatore鈥檚 utilisation has fallen from 82 percent to 76 percent, as volumes fell by 4 percent.
However, FIS commented that: 鈥渢he volatile share price, plus the high utilisation levels have been pushing borrowing costs steeply upward, testing short sellers鈥� resolve regarding their views of the long-term value of this Italian brand.鈥�
German medical equipment company Sartorius made its debut on the hot stocks list, coming in first place for EMEA.
Sartorius鈥檚 share price has climbed steeply to close last week at a new 12-month peak of 鈧�108.20, a gain of some 55 percent over the last year.
At the end of last week, utilisation was down at 25 percent as short sellers sought to minimise their exposure to the rapidly appreciating share price.
Mimedx Group, a developer and processor of regenerative biomaterial products, was FIS鈥檚 top pick for the Americas.
Since the beginning of January, Mimedx, has seen short interest volume fall by almost 12 percent.
But last week, the US Department of Justice launched a probe into the company鈥檚 business practices.
The shares tumbled after this announcement, registering a drop of some 57 percent from the January peak.
Network service provider Ubiquiti Networks is back on the list this week as the US Securities and Exchange Commission announced a probe into its business practices, subpoenaing both the company and some of its executives, which saw shares plummet by 24 percent.
Ubiquiti鈥檚 short interest volume has been declining since October, dropping some 44 percent.
Over the same period, Ubiquiti鈥檚 utilisation has risen from 82 percent to 97 percent at the close of last week.
FIS said this indicated that a significant number of large, long investors have sold out of their positions.
Since December 1, Salvatore鈥檚 utilisation has fallen from 82 percent to 76 percent, as volumes fell by 4 percent.
However, FIS commented that: 鈥渢he volatile share price, plus the high utilisation levels have been pushing borrowing costs steeply upward, testing short sellers鈥� resolve regarding their views of the long-term value of this Italian brand.鈥�
German medical equipment company Sartorius made its debut on the hot stocks list, coming in first place for EMEA.
Sartorius鈥檚 share price has climbed steeply to close last week at a new 12-month peak of 鈧�108.20, a gain of some 55 percent over the last year.
At the end of last week, utilisation was down at 25 percent as short sellers sought to minimise their exposure to the rapidly appreciating share price.
Mimedx Group, a developer and processor of regenerative biomaterial products, was FIS鈥檚 top pick for the Americas.
Since the beginning of January, Mimedx, has seen short interest volume fall by almost 12 percent.
But last week, the US Department of Justice launched a probe into the company鈥檚 business practices.
The shares tumbled after this announcement, registering a drop of some 57 percent from the January peak.
Network service provider Ubiquiti Networks is back on the list this week as the US Securities and Exchange Commission announced a probe into its business practices, subpoenaing both the company and some of its executives, which saw shares plummet by 24 percent.
Ubiquiti鈥檚 short interest volume has been declining since October, dropping some 44 percent.
Over the same period, Ubiquiti鈥檚 utilisation has risen from 82 percent to 97 percent at the close of last week.
FIS said this indicated that a significant number of large, long investors have sold out of their positions.
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