WisdomTree Short Interest Soars to 26%
Welcome to this week's installment of "The Short Interest Report" - The Fly's weekly recap of short interest trends among some of the most widely followed high-short-float stocks. Using the data from our partner, which utilizes the latest information from stock lenders to estimate short interest changes for thousands of publicly traded companies, this report will screen for some of biggest changes in short interest as a percentage of free float and days-to-cover ratios while also considering the short interest data on some of the more volatile and heavier-traded names of the week. Based on the availability of data from Ortex, the report tracks the trading period that covers prior Friday through Thursday of this week, excluding holidays. As a basis of comparison for stocks discussed below, the S&P 500 index was up 0.5%, the Nasdaq Composite was up 0.3%, the Russell 2000 index was up 1.5%, the Russell 2000 Growth ETFwas up 1.7%, and the Russell 2000 Value ETFwas up 1.2% in the five-day trading session range through February 12.SHORT INTEREST GAINERSOrtex-reported short interest on WisdomTreesaw a four-month low of about 17% in the first week of December and remained within a 17%-19% band up until this week before spiking as high as 26% - a record high – with days to cover also rising modestly to 10.3 from 9.6. Similarly, the official exchange-reported data on the stock as of January-end saw shorts as a percentage of free float having already reached its own record high of nearly 23%. The stock is up 5.4% in the five-day period covered, though year-to-date, shares are up an impressive 34% - the highest return in the Asset Manager group - building the case for a correction.Ortex-reported short interest on Surgery Partnershas been on a gradual uptrend since October low around 18%, though this week, bearish positioning increase became much more pronounced. Shorts as a percentage of free float on the name jumped from 27.4% to 32.4% - the highest level since mid-July – as bears noted the strong 18% rebound in the stock from Monday's multi-month lows. For the week, Surgery Partners was up 15%, and year-to-date, the stock is now flat.Ortex-reported short interest in Upstartwas up every session but one from the five- month lows around 24% on February 2, rising to 27.8%. Bears are pressing their bets, with the stock deepening its selloff since reporting a disappointing Q4 earnings report on Tuesday. Shares are now at the lowest level since mid-2024, having fallen 13% in the five-day period covered through Thursday and also down 42% from early-January highs. Notably, Upstart saw some modest strength of about 2% on Friday as the stock received a valuation-driven upgrade from Goldman Sachs and as the Credit Services group re-rated after a brutal February selloff.Ortex-reported short interest on Concentrixis on the rise even as the stock has come under extreme pressure over the course of two consecutive days this week. Shorts as a percentage of free float in Concentrix had been trending higher since late February, though this week, the increased bearish positioning tripped the radar with an increase of over two percentage points, rising from 22.8% to 25.2% - the highest level since late October. For the week, the IT Solutions name was down 19%, and year-to-date, the stock is now down 27%, though this week's all-time lows in share are hardly proving to be a deterrent among the shorts.SHORT INTEREST DECLINERSShares of Under Armourhad been in a rut since late 2024, and 2025 was particularly unkind to the athletic apparel maker as its stock fell about 40%. 2026 has started off strong for the company however, forcing some notable large scale short-covering. This week, shorts as a percentage of free float in Under Armour fell from 32.8% all the way to 26% - the lowest level since mid-November. Days-to-cover on the name also slipped from 5.9 to a three-month low of 4.9. While the stock was already up over 30% heading into earnings last Friday, a much better than expected set of Q3 results along with the management's guidance raise catalyzed the rebound even further. Under Armour was up 12% in the five-day period through Thursday and has now gained over 44% year-to-date.
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- Record AUM Achievement: WisdomTree's assets under management reached $144.5 billion in Q4 2025, reflecting a 5% increase from Q3 and over 30% year-over-year growth, showcasing the company's ability to maintain strong growth amid market fluctuations and solidifying its market position.
- Significant Revenue Growth: Adjusted revenues for the quarter were $147.4 million, up 17% from Q3 and approximately 33% year-over-year, primarily driven by higher average AUM and contributions from Ceres, indicating substantial progress in revenue diversification.
- Gross Margin Improvement: Management forecasts gross margins for 2026 to range between 82% and 83%, up from 81.9% last year, reflecting revenue growth from Ceres and expectations for further AUM expansion, demonstrating ongoing enhancements in profitability.
- Optimistic Future Outlook: Management anticipates a compensation-to-revenue ratio of 26% to 28% for 2026 and plans to increase discretionary spending to $80 million to $86 million, primarily for marketing and sales, indicating a proactive strategy for expanding market share and improving operational efficiency.
- Earnings Beat: WisdomTree reported a Q4 non-GAAP EPS of $0.29, exceeding expectations by $0.06, which reflects strong profitability and boosts investor confidence in the company's financial health.
- Significant Revenue Growth: The company achieved revenue of $147.4 million, marking a 33.2% year-over-year increase and surpassing market expectations by $4.8 million, indicating robust demand for its products and services.
- Record AUM: WisdomTree's assets under management (AUM) reached a record $144.5 billion, showcasing strong investor interest in its investment products and solidifying its market position.
- Earnings Per Share Performance: The diluted EPS stood at $0.28, slightly below the non-GAAP figure, yet still indicates ongoing improvement in profitability, suggesting potential for future growth.
- AUM Growth: WisdomTree's assets under management (AUM) reached $144.5 billion, marking a 5.3% increase from the previous quarter, primarily driven by market appreciation and the acquisition of Ceres Partners, indicating strong growth potential in asset management.
- Profitability Improvement: The company reported a net income of $40 million for Q4, with adjusted earnings per share at $0.29, significantly up from the previous year, reflecting revenue growth and operational efficiency gains from the Ceres acquisition.
- Operating Margin Expansion: The operating income margin increased to 40.5%, up 4.2 percentage points from the prior quarter, primarily due to revenue increases from the Ceres acquisition, demonstrating effective management in cost control and profitability.
- Shareholder Returns: WisdomTree declared a quarterly dividend of $0.03, payable on February 25, 2026, highlighting the company's commitment to shareholder returns while maintaining growth momentum.
- Earnings Announcement: WisdomTree is set to release its Q4 earnings on January 30 before market open, with a consensus EPS estimate of $0.23, reflecting a 35.3% year-over-year increase, which could further solidify its position in the investment management sector.
- Revenue Growth Expectations: The anticipated Q4 revenue of $142.6 million, representing a 28.8% year-over-year growth, indicates strong performance in its asset management business, potentially attracting more investor interest.
- Strong Track Record: Over the past two years, WisdomTree has beaten EPS estimates 88% of the time and revenue estimates 63% of the time, demonstrating financial stability and building market confidence.
- Upward Revision Trend: In the last three months, WisdomTree has seen 6 upward revisions for EPS and 5 for revenue estimates, reflecting analysts' optimistic outlook on the company's future growth.








