Fintel’s short interest data identifies candidates for the week of October 24

NEW YORK, NEW YORK, UNITED STATES, October 25, 2021 /EINPresswire.com/ -- Fintel.io, a provider of advanced research tools for data-driven investors, has developed a mathematical model that provides investors and traders with data that helps quantify the short squeeze risk for a company. This model takes into account a number of factors that contribute to short squeezes, including relative short interest, borrow fee rates, trading volume, and others.

The Short Squeeze Leaderboard provides a leaderboard ranking of companies with the highest Short Squeeze Score so traders can easily identify companies with the highest likelihood. For traders who want to find short squeeze opportunities before they happen, the Short Squeeze Leaderboard is an ideal tool.

Below are notable Short Squeeze candidates as of October 24, 2021 at 8:00pm EST:

* PROG / Progenity, Inc. (97.40)
Progenity is back on the top of this week’s list with a score of 97.40. The company has a cost to borrow of 76.89% and 22.40% of its total float is shorted. As we have noted before, raw short interest has climbed significantly over the last few weeks, from a low of 2.57M at the end of July to 10.7M as of September 30, an increase of 318%. Despite this, the company’s share price has continued to climb, from a low of 0.66 / share to a high of 3.55 last week before closing at 2.96, based on news that its patent for a preeclampsia test was awarded: “If it can continue to show progress with its risky transformation plan, and the commercialization of its pipeline, it could end in tears for those betting big against it today. But factors like the company’s heavy issuance of shares may cut its recent strong run short.”

* DBGI / Digital Brands Group, Inc. (92.92)
Microcap Digital Brands Group is second on this week’s list with a score of 92.92. The company’s cost to borrow shares is 34.67% and the total float shorted is 18.75%, which is not the highest of the batch, but what is significant is the increase in raw short interest. Raw short interest jumped a whopping 973% in just two weeks, climbing from 120K shares in mid-September to 1.296M shares as of September 30. With a float of just 6.56M shares, this means the total non-shorted float is just 5.62M shares, which puts this company at high risk for a squeeze.

* PTGX / Protagonist Therapeutics, Inc. (92.42)
Protagonist Therapeutics comes in third this week with a score of 92.39. The cost to borrow shares is “just” 16.88%, which is down significantly from the 74% range it was at on October 13. Additionally, the total float shorted is “just” 12.41%, which is also not the highest of this week’s batch. However, the raw short interest increased 27.6% in just one reporting period, to 3.6M shares, and unlike the others, trading volume has diminished to the point where the total days to cover is 6.61%. If there was a sudden climb in the borrow rate and margin calls were made, short sellers might struggle to cover with the current volume. In the last quarter, fund ownership has increased significantly: the company’s Owner Accumulation Score is 93.94, which is number 401 out of 22,460 companies tracked.

* AGC / Altimeter Growth Corp. (91.58)
Altimeter Growth is number four on this week’s list with a score of 91.58. The company has the lowest borrow rate at just 13.13% but the highest percentage of float shorted, at 35.27%. The company is yet another SPAC that is slated to merge with Grab, Southeast Asia’s ride-hailing company that many call a super-app since it provides not just ride-hailing, but food delivery, grocery delivery, digital banking, and insurance. The company’s share price has seen a lot of volatility in the last week but closed at 11.00 / share, up from 10.05 / share in the prior week. Institutional ownership has been extremely bullish, with total shares owned increasing by 254% in the most recent quarter and the total number of disclosed funds increasing by 21.92%.

* PALT / Paltalk, Inc (91.57)
Microcap Paltalk seems to be a perennial favorite on this list - this week coming in last with a score of 91.21. The cost to borrow is 131% which is the highest on record this week, and although the total float shorted is just 5.6%, the actual non-shorted float is just 7.21M shares. At about 7$ / share, it would take just $50M to snap up the remaining shares and put the squeeze on.

Short Squeeze Scores scoring model ranges from 0 to 100, with 100 being most likely, relative to its peers.

The Short Squeeze Leaderboard also compiles data like Short Interest % Float, Change in Volume, Change in Price, and Borrow Fee Rate into an easy-to-use leaderboard for investors to reference when making decisions.

For more information visit https://fintel.io/

About Fintel.io:
Fintel.io is a leading equity research platform designed to help data-driven investors make better investing decisions. Fintel provides deep analytics on a variety of market data, including fund ownership, insider trading activity, short interest, and company financials. Fintel currently tracks over 30,000 funds and over 63,000 securities traded worldwide. Information includes fund holdings, fund sentiment, financial data, and regulatory filings. Fintel was founded by Wilton Risenhoover.

About Finpedia.co
Fintel.io developed Finpedia.co as another resource for investors. Finpedia is a financial wiki that aims to develop thorough and complete research reports on every publicly traded company in the world. These research reports are crowdsourced from public documents such as regulatory filings and news reports. For more information visit finpedia.co.

Evan Sneider
Red Rooster PR
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