8 Oversold Stocks with Decreasing Shares Shorted

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Here we present 8 oversold stocks, with RSI(14) readings below 40. These stocks have also seen decreasing short interest month-over-month.

Do you think this bullish behavior is likely to continue for these names?

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List sorted by the change in shares shorted as a percentage of share float.

1. Finisar Corp. (FNSR): Networking & Communication Devices Industry. Market cap of $2.05B. RSI(14) at 39.19. Shares shorted have decreased 8.00% month-over-month (from 8.00M to 7.36M shares shorted). Change in shares shorted is 0.84% of a 76.05M share float. This is a risky stock that is significantly more volatile than the overall market (beta = 2.92). FNSR has performed poorly over the last month, losing 42.24%.

2. Urban Outfitters Inc. (URBN): Apparel Stores Industry. Market cap of $5.01B. RSI(14) at 34.66. Shares shorted have decreased 8.78% month-over-month (from 11.96M to 10.91M shares shorted). Change in shares shorted is 0.82% of a 128.42M share float. The stock is currently stuck in a downtrend, trading 6.36% below its SMA20, 12.93% below its SMA50, and 11.96% below its SMA200. The stock has performed poorly over the last month, losing 19.61%.

3. Synovus Financial Corp. (SNV): Regional - Mid-Atlantic Banks Industry. Market cap of $1.88B. RSI(14) at 38.23. Shares shorted have decreased 5.97% month-over-month (from 91.35M to 85.90M shares shorted). Change in shares shorted is 0.70% of a 773.31M share float. The stock is a short squeeze candidate, with a short float at 10.95% (equivalent to 7.76 days of average volume). It's been a rough couple of days for the stock, losing 5.88% over the last week.

4. Sanmina-SCI Corp. (SANM): Printed Circuit Boards Industry. Market cap of $878.55M. RSI(14) at 33.61. Shares shorted have decreased 12.70% month-over-month (from 4.33M to 3.78M shares shorted). Change in shares shorted is 0.70% of a 78.2M share float. This is a risky stock that is significantly more volatile than the overall market (beta = 3.09). The stock is currently stuck in a downtrend, trading 12.02% below its SMA20, 22.57% below its SMA50, and 12.89% below its SMA200. The stock has performed poorly over the last month, losing 26.98%.

5. Rovi Corporation (ROVI): Multimedia & Graphics Software Industry. Market cap of $5.89B. RSI(14) at 37.16. Shares shorted have decreased 8.99% month-over-month (from 8.34M to 7.59M shares shorted). Change in shares shorted is 0.70% of a 107.35M share float. The stock has gained 47.54% over the last year.

6. Broadcom Corp. (BRCM): Semiconductor - Integrated Circuits Industry. Market cap of $21.77B. RSI(14) at 38.57. Shares shorted have decreased 8.35% month-over-month (from 13.78M to 12.63M shares shorted). Change in shares shorted is 0.24% of a 474.68M share float. The stock has gained 22.67% over the last year.

7. Nomura Holdings Inc. (NMR): Investment Brokerage - National Industry. Market cap of $19.64B. RSI(14) at 36.15. Shares shorted have decreased 30.94% month-over-month (from 1.18M to 814.95K shares shorted). Change in shares shorted is 0.01% of a 3.60B share float. The stock is currently stuck in a downtrend, trading 7.43% below its SMA20, 13.78% below its SMA50, and 9.56% below its SMA200. It's been a rough couple of days for the stock, losing 6.05% over the last week.

8. Honda Motor Co., Ltd. (HMC): Auto Manufacturers - Major Industry. Market cap of $69.02B. RSI(14) at 37.5. Shares shorted have decreased 19.19% month-over-month (from 939.46K to 759.18K shares shorted). Change in shares shorted is 0.01% of a 1.80B share float. HMC has a relatively low correlation to the market (beta = 0.79), which may be appealing to risk-averse investors. The stock has performed poorly over the last month, losing 12.41%.

*Short data sourced from Yahoo! Finance, all other data sourced from Finviz.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: Investing , Investing Ideas , Stocks


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