HPK News & Events

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 down 2.5%, the Nasdaq Composite was down 3.8%, the Russell 2000 index was down 0.5, the Russell 2000 Growth ETFwas down 1.3% and the Russell 2000 Value ETFwas flat in the five-day trading session range through June 11.SHORT INTEREST GAINERSOrtex-reported short interest in BlackSky Technologytroughed at a 9-month low of just below 20% on May 26 as the stock price was rounding out a nearly 3-times swing since the start of the year and a quadrupling since November lows. A timely downgrade from Jefferies suggesting that the excitement regarding space-themed stocks heading into the SpaceX IPO could be misplaced grounded the stock, however, and shares have since shed nearly 40% from their May 28 peak while also sparking renewed bearish interest. This week, short interest as a percentage of free float lifted from 21.9% to a three-month high of 24.6%, days-to-cover rose from 3.3 to 3.6 while the stock price fell 9.3%, with another 10% retreat on Friday. Year-to-date, BlackSky is still up a hefty 73%.Ortex-reported short interest in Summit Therapeuticstroughed just under 21% on May 18, rising gradually over the subsequent three weeks and then spiking sharply over the past few sessions. In the five-day period covered through Friday, Summit Therapeutics' short interest as a percentage of free float spiked from 22.7% to 28.0% - a three-week high. With a pick-up in trading volume over the past 10 trading days, days-to-cover on the name is up more incrementally, rising from 7.5 to 8.5 – a two-week high. The stock was off by 12% this week at a two-year-low, with the selloff gathering steam after the company's $500M equity offering. Shares also remain down 23% year-to-date.Ortex-reported short interest on Bobs Discount Furniturepeaked at a record-high of 28% on May 15, receded to 20% over the next two weeks, but has since bounced back toward those highs in June with rangebound price action in shares soothing any potential concerns of a violent short squeeze. This week, shorts as a percentage of free float rose from 23.7% to 27.5% and days-to-cover ticked up from 5.5 to 6.5. The stock was up about 2% in the five-day period covered but remains down 18% year to date. Assuming Friday's 3% gains hold, Bobs Discount is now down 19% from its IPO pricing level of $17.Ortex-reported short interest in Avis Budgettroughed at one-year lows around 35% on May 21 as bears took profits in conjunction with shares giving back the vast majority of their whopping 800% March-April gains. The stock appears to have found some footing, however, and while the advance from mid-May lows is far more gradual, shorts are accumulating into strength. This week, short interest as a percentage of free float rose from 39.6% to 45.8%, days-to-cover increased from 2.1 to 2.5%, and the stock advanced 9.7% in the five-day period through Thursday. Year-to-date, Avis Budget is now up 45%.SHORT INTEREST DECLINERSOrtex-reported short interest in HighPeak Energypeaked at a record high of 42.3% in the first week of June but fell sharply this week, sliding all the way down to a two-month low of 29%. Days-to-cover on the name also retreated by a meaningful margin, falling from 9.5 to 7.1 – a three-year low. A build-up in short exposure against the backdrop of higher energy prices boosting the sector may have finally culminated in a sharper short-squeeze outflow for the bears. While shares of HighPeak slipped about 3% in the five-day period through Thursday, the stock up 65% year-to-date and up 51% since the start of the Iran war.

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 down 1.0%, the Nasdaq Composite was down 1.0%, the Russell 2000 index was up 0.2%, the Russell 2000 Growth ETFwas down 0.6%, and the Russell 2000 Value ETFwas flat in the five-day trading session range through March 19.SHORT INTEREST GAINERSOrtex-reported short interest on Frontier Group Holdingshad previously reached a multi-month high above 50% in the first week of December as the stock price had rallied. Short positioning had then retreated to track in a 35%-42% range over the second half of December and through January-February, though bears have been far more active over the past three weeks, coinciding with the start of the Iran campaign by U.S.-Israel forces. This week, short interest as a percentage of free float jumped from 44.4% to 51.8%, a 10-month high. Similarly, days-to-cover rose sharply from 7.2 to 8.3 despite the increase in trading volume. Shares of Frontier Group were down 6% in the five-day period ended Thursday, though the stock is now down 27% from the start of the Middle East tension as traders react to the double-whammy of higher oil price and heightened travel alertness impacting airline and cruise stocks.Ortex-reported short interest on WisdomTreehad receded from mid-February high levels around 26.5% toward 22% in the first two weeks of March, though this week, shorts as a percentage of free float nudged higher and back above 24% while days-to-cover on the stock rose from 7.8 to 8.6. The stock had been one of the best performing names among its small-cap peers in the asset management space and remains impressively higher double-digits year-to-date in spite of the headwinds encountered by private credit, though it was also down 8.5% in in the five-day period covered through Thursday and has now fallen 24% relative to its 2026 peak just two weeks ago.Ortex-reported short interest in Core Scientifichad tracked in a very narrow 25%-26% range from February 10 through March 10, though this week, traders have turned increasingly willing to underwrite a more bearish case for digital crypto mining names. Short interest as a percentage of free float climbed from 26.5% to 28.3% in the five-day period covered through Thursday even as the stock rose 1.5% against a decidedly negative broader market sentiment. Short positioning is now within two percentage points of its 2026 highs even though the stock is still up about 9% on the year.SHORT INTEREST DECLINERSThe oil shock related to the Middle East conflict has made energy the only market sector to generate gains this week, and this theme is also playing out across our short-interest screen, where every stock in the energy arena has seen its short positioning drastically reduced. Specifically, bearish exposure as a percentage of free float for Fluence Energyfell 10 percentage points to a two-month low of 19.5%, short interest on Northern Oil & Gasfell from 18.4% to a one-year low of 16.1%, while that of HighPeak Energyslipped from 28.4% to a one-month low of 25.3%. Shorts are heading for the exits as the path to an off-ramp from escalation around the Strait of Hormuz - sending oil prices up by about 50% in just three weeks - remains murky, and the performance of those stocks reflect the sharp supply-risk premium: Northern Oil has gained 3% and HighPeak soared by 20%, even though Fluence Energy slipped about 2% in the five-day period covered through Thursday.