5 Stocks Set to Soar on Bullish Earnings
Another potential earnings short-squeeze play is satellite-based managed network solutions provider Globecomm Systems (GCOM), which is set to release its numbers on Tuesday after the market close. Wall Street analysts, on average, expect Globecomm to report revenue of $99.17 million on earnings of 20 cents per share.
The current short interest as a percentage of the float for Globecomm is rather high at 11.3%. That means that out of the 20.25 million shares in the tradable float, 2.45 million shares are sold short by the bears. The bears have also been increasing their bets from the last reporting period by 16.6%, or by about 348,000 shares. If the bears are caught leaning too hard into this quarter, then we could easily see a monster short-squeeze develop post-earnings.
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