Big Lots, II-VI Make Piper Sandler's Top 20 Short Squeeze List: Alpha Tactics

Seeking Alpha2022-01-10
  • Piper Sandler Technical Market Strategist Craig. W. Johnson is out with his latest quarterly Alpha Alignment Report, which screens 900 stocks for ahost of fundamental and technical factors.
  • Along with the headline Alpha Alignment Index, the report also screens for an equal-weighted Short Squeeze Index for the first quarter.
  • The 20 short-squeeze candidates are "based on Piper Sandler covered stocks that are exhibiting improving technical strength or evidence of a bottom, a Neutral or Overweight rating, and elevated short interest relative to their equity float," Johnson writes.
  • The stocks must also have a market cap of more than $750M.
  • The index has returned 50.8% since its inception at the start of 2020, slightly above the S&P 500(NYSEARCA:SPY).
  • In sector representation, Communication Services(NYSEARCA:XLC)drops off the list and Consumer Staples(NYSEARCA:XLP)makes an appearance. Healthcare(NYSEARCA:XLV)still has several names and Energy(NYSEARCA:XLE)candidates increase.
  • Here are the stocks for this quarter's rebalancing by sector with the Piper Sandler price target, the % of float short and days to cover (the higher the likelier a squeeze):
  • Consumer Discretionary(NYSEARCA:XLY)
  1. Big Lots(NYSE:BIG), PT $50, short interest 20.73%, days to cover 5.47
  2. Dave & Buster's(NASDAQ:PLAY), $38, 15.64%, 2.76
  3. Sleep Number(NASDAQ:SNBR), $140, 16.92%, 13.2
  • Consumer Staples (XLP)
  1. Utz Brands(NYSE:UTZ), $21, 8%, 7.96
  • Energy (XLE)
  1. Continental Resources(NYSE:CLR), $50, 16.73%, 8.06
  2. CNX Resources(NYSE:CNX), $19, 15.53%, 9.19
  3. Magnolia Oil & Gas(NYSE:MGY), $25, 12.84%, 8.91
  4. Northern Oil and Gas $35, 13.72%, 7.02
  • Financials(NYSEARCA:XLF)
  1. PennyMac Financial Services(NYSE:PFSI), $111, 8.61%, 5.04
  2. Voya Financial(NYSE:VOYA), $78, 15.63%, 10.14
  3. The Macerich Company(NYSE:MAC), $23, 13.13%, 8.62
  4. Vornado Realty(NYSE:VNO), $46, 8.41%, 11.39
  • Healthcare (XLV)
  1. Design Therapeutics(NASDAQ:DSGN), $42, 12.91%, 12.29
  2. Gossamer Bio(NASDAQ:GOSS), $26, 17%, 16.73
  3. Jazz Pharma(NASDAQ:JAZZ), $209, 7.4%, 8.41
  4. OPKO Health(NASDAQ:OPK), $5, 13.03%, 11.98
  5. Pacira BioSciences(NASDAQ:PCRX), $91, 15.68%, 12.46
  • Info Tech(NYSEARCA:XLK)
  1. II-VI(NASDAQ:IIVI), $80, 16.99%, 13.79
  2. Impinj(NASDAQ:PI), $100, 8.74%, 3.68
  3. Wolfspeed(NYSE:WOLF), $160, 9.15%, 7.22
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Comments

  • beebeeyan
    2022-01-10
    beebeeyan
    wa
  • Gackky
    2022-01-10
    Gackky
    i only know magnolia ice cream… not oil and gas… am i ignorant [Glance] [Thinking] [Helpless] 
  • Lynpinking
    2022-01-10
    Lynpinking
    Plsmlike
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