Top 3 High Short Interest Stocks Ready for a Short squeeze

Nothing scares stock market bears more than two simple words: short squeeze. Like a tsunami, a short squeeze can devastate unsuspecting bears as they frantically rush to cover short positions, inadvertently pushing prices even higher. The parabolic surge is the stuff of dreams for bulls who see account values ​​rising with joy. Meme stocks have thrived on short squeezes in 2021.

The formula for a short squeeze includes high short interest, a small float, and one or two surprise catalysts. Here are 3 stocks that could spark the proverbial spark in a kerosene-soaked stock-like short squeeze.

Symbolic

Simbotico Inc. NASDAQ: SYMBOL is a robotics and artificial intelligence (AI) company specializing in warehouse automation. The business services company designs and builds automated warehouse robotic systems to improve efficiency and productivity. It embodies three age-old tailwinds: artificial intelligence, automation, and the Internet of Things (IoT). Count the retail giants Walmart Inc. New York Stock Exchange: WMT, Target Co. New York Stock Exchange: TGT AND Albertsons Cos. NYSE: ACI like some of its largest customers.

Walmart took an 11% stake in the company and integrated Symbiotic into all of its 42 regional distribution centers. The company plans to offer Warehouse-as-a-Service (WaaS) through a joint venture, GreenBox Systems, with lead investor SoftBank. While SYM has a float of 356 Million shares, it has a high short interest of 27.13%. Check the heat map of the sector on MarketBeat.

Impetuous growth

Symbotic reported fiscal first-quarter 2024 GAAP EPS loss of 2 cents, missing consensus earnings estimates by 2 cents. Revenue increased 78.6% year-over-year to $368.45 million, slightly missing consensus estimates of $368.84 million. The company provided firm guidance for the fiscal second quarter of 2024 of $400 million to $420 million versus consensus estimates of $402.34 million.

Symbotic CEO Rick Cohen was optimistic and commented: “Fiscal 2024 is off to a good start with strong financial and operational results. I am satisfied with the path and objectives we have planned for the rest of the year. We will continue to innovate and develop implementation capabilities to support growth and greater profitability for our stakeholders.”

Everyday symmetrical triangular pattern

The daily candlestick chart for SYM illustrates a symmetrical triangle pattern. The descending upper trendline formed at $59.82 on November 28, 2023, capping lower highs during rebounds. The ascending lower trendline formed at $30.60 on November 13, 2023, bouncing higher and lower during pullbacks. SYM is approaching the apex point as it prepares to break out of the upper trend line or break out of the lower trend line.

The daily relative strength index (RSI) is attempting to wrap around the 48 band. The pullback support levels are at $38.99, $37.22, $33.93, and $29.62.

Symbiotic Analyst Ratings and Price Targets I’m on MarketBeat. You can find symbiotic peers and competitive actions with MarketBeat Stock Screener.

Intuitive machines

Intuitive Machines Inc. NASDAQ: LUNR provides space exploration services to enable human and scientific exploration on the Moon. The company makes lunar landers that deliver payloads of cargo and scientific instruments to the moon. The company has a contract with NASA for multiple missions. Intuitive Machines is also developing a lunar ground vehicle (LTV) capable of providing mobility on the lunar surface. The company has a float of 25.7 million shares and short interest of 21.82%. However, it made an offering of $300 million in Class A common stock and also the resale of 159.81 million Class A shares by the selling shareholders.

Fourth quarter 2023 earnings

Intuitive Machines’ backlog rose to $268.6 million at the end of the quarter, driven primarily by early NASA OMES III task orders. Revenue was $30.6 million, led by three NASA Commercial Lunar Payload Services (CLPS) initiative contracts, down from $38.6 million in the same period a year earlier. Full-year revenue was $79.5 million compared to $85.9 million in the same period last year. Full-year operating losses were $56.2 million compared to a loss of $5.9 million in the same period a year earlier. The company ended the quarter with $54.6 million.

Steve Altemus, CEO of Intuitive Machines, commented: “Exactly one year after going public, Intuitive Machines launched its IM-1 mission and one week later, on February 22, 2024, we successfully landed, marking the first lunar moon of the United States in over 50 years”. years.” Altemus continued: “The success of the landing, recognized by the White House, NASA and our commercial customers, has fundamentally disrupted the economics of the Moon landing, substantially reducing the costs of developing a lunar program.” Obtain AI-powered insights on MarketBeat.

Daily descending triangle

The daily candlestick chart on LUNR has a descending triangle pattern. The descending trendline formed at the swing high of $13.25 on February 21, 2024, as it limited bounces to the lower highs. The flat-bottomed lower trendline formed at $5.05. The daily RSI has moved around the $46 range. The pullback support levels are at $5.05, $4.46, $3.76, and $3.38.

Analyst Ratings and Price Targets for Intuitive Machines I’m on MarketBeat.

Wayfair

Wayfair Inc. NYSE: W is an online retailer of furniture and home products that consumers can access through its e-commerce platform. Accessibility and convenience are two key factors in its success against physical furniture competitors. Instead of traveling between physical showrooms and dealing with traffic, parking and weather constraints, customers can sift through collections seamlessly with the click of a mouse. The company has also implemented free shipping, a loyalty program, and white glove delivery options.

Outperform physical competitors

Most furniture retailers are experiencing a decline in revenue Haverty Furniture Cos. New York Stock Exchange: HVT with a revenue decline of 24% year over year in the fourth quarter of 2023 and La-Z-Boy Inc. New York Stock Exchange: LZB with Q3 2024 fiscal revenue declining 12.6% year-over-year, respectively. Wayfair reported revenue growth of 0.4% in the fourth quarter of 2023. It should be one of the first to recover when interest rate cuts begin. Operating margin expansion3 year over year.”

Daily ascending triangle

The daily candlestick chart on W continues to trade in the daily ascending triangle pattern. Just as it appears to be starting to break down through its lower ascending triangle, buyers come to potentially hold the line. The daily RSI also continues to fluctuate sideways around the 53 band. Pullback supports remain at the $58.98, $55.30, $51.83, and $48.99 levels.

Wayfair analyst ratings and price targets I’m on MarketBeat.

Before you consider Wayfair, you’ll want to hear this.

MarketBeat tracks Wall Street’s highest-rated and best-performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market takes hold… and Wayfair wasn’t on the list.

While Wayfair currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.

View the five stocks here