Short Interest Divergence
Guided Therapeutics Leads Sharp Short Interest Declines While Obra ETF Bucks Market Trend
Anonymous
Key Points
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Guided Therapeutics' short interest was 1,437 shares as of July 15, down 92.7% from 19,653 at June 30, with a reported short-interest ratio of 0.0 days and only 0.0% of shares sold short; the stock traded around $0.25 on light volume (5,100 shares vs. average 8,281).
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Prio S.A.'s short interest collapsed to 260 shares on July 15, a 95.3% drop from 5,586; the stock traded at C$11.54 with 7,370 shares changing hands vs. an average of 62,321. Zacks upgraded Prio to a Hold on June 8, and the company operates oil and natural gas properties in Brazil, including the Polvo, Frade, and Manati fields.
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Q.E.P. Co.'s short interest fell to 2 shares as of July 15, down 99.6% from 517; days-to-cover remained 0.0, while the stock traded around $49.75 with volume of 345 vs. its 1,826 average. The company reported $1.33 earnings per share and $60.96 million in revenue for the latest quarter, with a P/E of 14.21 and net margin of 6.59%.
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Obra Opportunistic Structured Products ETF (OOSP) saw short interest surge to 4,056 shares, up 1,396.7% from 271; the days-to-cover is 0.4, and the price remained flat at $10.13 as 375 shares traded (vs. average 93,241). OOSP focuses on broad credit fixed income and was launched on Apr 9, 2024.
Short interest in Guided Therapeutics plunged 92.7% in July, falling from 19,653 shares on June 30 to just 1,437 shares by July 15, according to Defense World. The micro-cap biotech stock traded around $0.25 on thin volume, with only 5,100 shares changing hands against an average of 8,281.
The sharp drop in short interest was not unique to Guided Therapeutics. Several small-cap stocks and ETFs posted dramatic swings in July short-interest data, with some falling nearly to zero while one fund saw shorts surge more than 1,300%.
Guided Therapeutics and Prio Short Interest Nearly Wiped Out
Guided Therapeutics now has essentially no short pressure. Its short-interest ratio stands at 0.0 days to cover, and just 0.0% of its shares are sold short, Defense World reported. The stock trades near $0.25, putting it firmly in penny-stock territory.
Prio S.A., a Brazilian oil and gas company, saw an even steeper percentage drop. Its short interest collapsed 95.3%, from 5,586 shares down to just 260 as of July 15. The stock traded at C$11.54 on low volume — 7,370 shares versus a daily average of 62,321. Zacks upgraded Prio to a Hold rating on June 8. The company operates the Polvo, Frade, and Manati oil and gas fields in Brazil.
Q.E.P. Co. Short Interest Falls to Just 2 Shares
Q.E.P. Co. posted one of the most extreme short-interest drops on record. Its short interest fell 99.6%, from 517 shares to just 2 shares as of July 15, according to Defense World. The days-to-cover ratio sits at 0.0, meaning shorts could exit almost instantly.
The flooring products company reported $1.33 in earnings per share for the latest quarter, with revenue of $60.96 million. Its price-to-earnings ratio is 14.21 and its net margin is 6.59%. The stock traded around $49.75 on very light volume — just 345 shares versus a daily average of 1,826.
Obra ETF Bucks the Trend With a 1,396% Short Interest Surge
While most names saw short interest shrink, the Obra Opportunistic Structured Products ETF (OOSP) went the other way. Its short interest jumped 1,396.7%, rising from 271 shares to 4,056 shares by July 15, according to Defense World. The days-to-cover ratio is 0.4.
Despite the surge in short interest, OOSP's price barely moved. The ETF stayed flat at $10.13, with just 375 shares trading against a much higher average of 93,241. OOSP focuses on broad credit fixed income and launched on April 9, 2024. The spike in shorts suggests some investors are betting against structured credit products, even as the fund's price holds steady.
What Falling Short Interest Actually Means for Investors
Short interest measures how many shares investors have borrowed and sold, betting the price will drop. When short interest falls fast, it often means those bets are being closed out. That can signal less bearish sentiment — but for tiny stocks like these, the raw share counts are so small that even one trade can move the numbers dramatically.
For Guided Therapeutics, Prio, and Q.E.P., the near-zero short interest leaves little room for a short squeeze — there are simply too few shares sold short to cause one. Obra's rising short interest is the outlier worth watching, especially if structured credit markets face stress in the months ahead.
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