Short Interest Monitor
The latest edition of the Short Interest Monitor is dominated by tech firms and emerging aerospace and aviation companies.
AST SpaceMobile (ASTS) saw its short interest spike in the final two weeks of August after the Texas-based satellite designer and manufacturer missed analysts' earnings and revenue estimates in its second-quarter earnings report. ASTS reported a net loss of $0.77 per share on revenues of $31.5 million in the quarter. The company also rescheduled its launch of continuous space-based cellular broadband from late 2026 to early 2027. Valuation concerns may have drawn in short sellers as well. ASTS currently trades at roughly 148 times its trailing 12-month sales.
Short sellers also targeted FactSet Research Systems (FDS) in late August, leading its short interest to jump roughly 25% from the prior reporting period. Fears of AI disruption continue to plague the financial data and software company, particularly after the recent release of OpenAI's ChatGPT for Financial Services. FDS reported strong fiscal third-quarter earnings in July, topping analysts' estimates while posting 6.4% year-over-year revenue growth. However, weak analyst sentiment, evidence of ongoing margin compression, and rising technology costs may be attracting short sellers.
Joby Aviation (JOBY) also saw its short interest surge in late August after the company missed second-quarter earnings estimates and announced a $750 million equity distribution plan, which sparked dilution concerns. JOBY's core electric vertical takeoff and landing aircraft still haven't received full Federal Aviation Administration approval, forcing the company to burn cash in order to continue research and development. JOBY still holds a significant cash pile, which should be able to fund its operations for two to three years, according to management. However, analysts have expressed concerns about the current cash-burn rate and how fast consumers will adopt air taxi services once they're launched.
The table below shows the complete Short Interest Monitor, which features 10 equities with elevated and rising short interest. Each stock has a market cap of at least $2 billion and short interest that represents at least 10% of its outstanding shares.
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