14 Sep

Short Interest in Emerge Energy Services: The Recent Fall

WRITTEN BY Rekha Khandelwal, CFA

Short interest in EMES

According to data released on September 12, 2017, the short interest as a percentage of floating shares in Emerge Energy Services (EMES) on August 31, 2017, was 9.9% compared to 10.9% on August 15, 2017.

The total EMES shares shorted fell from ~3.1 million to ~2.8 million. The current short interest in EMES, however, is higher than the four-year average of ~6.3%.

Short Interest in Emerge Energy Services: The Recent Fall

The recent fall in short interest in Emerge Energy Services stock could indicate that fewer investors expect its price to fall further than the number of investors that expected a fall in mid-August. It’s worth noting that investors could be mistaken in their expectations.

The short interest ratio for Emerge Energy Services is ~6.0x. That indicates that it would take nearly six days to cover all of the open short positions in Emerge Energy Services stock.

The above chart shows the changes in short interest as a percentage of float for Hi-Crush Partners (HCLP) and Emerge Energy Services.

Short interest in HCLP

Short interest as a percentage of float in Hi-Crush Partners on August 31, 2017, was 10.0%. That’s marginally lower than it was on August 15, 2017.

The total HCLP shares shorted fell from ~7.79 million to ~7.78 million. The current short interest in HCLP, however, is higher than the four-year average of ~4.5%. As the above graph shows, short interest in HCLP has been on a rising trend since the start of 2017.

The short interest ratio for Hi-Crush Partners is ~4.0x. That indicates that it would take nearly four days to cover all the open short positions in Hi-Crush Partners stock.

Let’s see next what the current valuations of Emerge Energy Services and Hi-Crush Partners indicate.

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