3 Stocks Reporting Earnings Next Week With Bullish Short Trends
We continue to look for ways to get involved during earnings season. If you are trying to do the same, this list might be a helpful starting point. [More lists: Hedge Funds Are Cautious Of These 4 Auto Companies]
We started with a list of stocks expected to report earnings next week. We then screened for bullish short trends, with significant decreases in shares shorted month-over-month. We were left with the 3 stocks listed below.
But why the bullish short trends? We went further to look for fundamental catalysts for these companies.
Interactive Chart: Press Play to compare changes in analyst ratings over the last two years for the stocks mentioned below. Analyst ratings sourced from Zacks Investment Research.
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Do you think these stocks will outperform like short sellers expect? Use this list as a starting point for your own analysis.
1. Abiomed Inc. (ABMD): Engages in the research, development, and sale of medical devices that provide circulatory support to acute heart failure patients across the continuum of care in heart recovery. Market cap at $547.45M, most recent closing price at $13.80.
Shares shorted have decreased from 8.59M to 7.61M over the last month, a decrease which represents about 2.82% of the company's float of 34.72M shares. Days to cover ratio at 7.02 days. The company is expected to report earnings on February 6th, 2013.
Investors are now focusing on any new information on management's progress towards submitting the Pre-Market Approval (PMA) application for its miniature heart pump. The product will have to go through a more rigorous process at the FDA, versus the less 510K clearance approval.
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