A stock screen courtesy of Kapitall.com uncovers a trio of stocks with impressive growth prospects and strong upward momentum in a difficult market, both traits that have short sellers jumping ship.
Interested in trading growth stocks with strong momentum? For a closer look at some high-growth names, we ran a screen.
We began by screening for stocks with high growth prospects, with five-year projected earnings per share (EPS) growth above 15%.
We then screened for those with strong upward momentum, trading above their 20-day, 50-day, and 200-day moving averages.
Finally, we screened for those with bullish sentiment from short sellers, with significant decreases in shares shorted month-over-month representing at least 2% of share float. This indicates that short sellers are less bearish on these names than they were a month ago.
Mellanox Technologies, Ltd. (MLNX) engages in the design, development, marketing, and sale of interconnect products primarily in North America, Israel, Europe, and Asia and has a market cap of $2.19 billion. It has a five-year projected earnings-per-share (EPS) growth of 20%.
Shares shorted have decreased from 2.07 million to 421,590 over the last month, a decrease which represents about 5.29% of the company’s float of 31.19 million shares. It has a “days to cover” ratio (how many trading sessions it would take to close short positions at the current rate) of 0.99 days.
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Internet Initiative Japan Inc. (IIJI) provides Internet connectivity, outsourcing, and systems integration services to customers primarily in Japan and has a market cap of $750.71 million. It has a five-year projected EPS growth of 31.10%.
Shares shorted have decreased from 26,430 to 20,210 over the last month, a decrease which represents about 3.07% of the company’s float of 202,320 shares. It has a “days to cover” ratio of 1.63 days.
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Athenahealth, Inc. (ATHN) provides ongoing billing, clinical-related, and other related services to medical group practices primarily in the United States and has a market cap at $2.58 billion. It has a five-year projected EPS growth of 30.17%.
Shares shorted have decreased from 9.34 million to 8.62 million over the last month, a decrease which represents about 2.05% of the company’s float of 35.14 million shares. It has a “days to cover” ratio of 18.52 days.
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By the Staff at Kapitall.com
