To the untrained eye, there are lots of indicators for Google Inc (NASDAQ:GOOG) readers to pay attention to, but it is absolutely crucial to be aware of a stock’s short sellers. A couple indicators we can use are: (a) the percentage of a stock’s float that the shorts are presently selling, in addition to (b) the change in short interest.
Augmented shorting usually means what you’d think: Wall Street has turned less fond of the stock. Overselling, however, may have a positive effect on share price, as short-ers can be forced to buy their shares.
Here at Insider Monkey, it’s not a secret that we pay attention to hedgies’ interest, but it’s also beneficial to pair this data with aggregate short interest data. A few, mega- players may indicate that they’re short on a particular company, but it isn’t an SEC requirement. Nonetheless, some retail players might want to stay away from heavily short sold equities with elevated hedge fund interest, while others might desire short-squeeze candidates. For readers searching for a proven piggybacking strategy, discover the details of our premium strategy.
Let us take a glance at the recent info surrounding Google Inc (NASDAQ:GOOG).
Studying the newest FINRA short interest data, which is released two times every month, we can realize that Google Inc (NASDAQ:GOOG) has a short interest of 1.50% of float. This indicates a -7% change from the previous filing period. With a total float of 273.55M shares, this is a short ratio of 1.70.
Insider purchases made by high-level executives is best served when the company in focus has seen transactions within the past six months. Over the last half-year time frame, Google Inc (NASDAQ:GOOG) has experienced zero unique insiders purchasing, and 8 insider sales (see the details of insider trades here).
Let’s also examine activity in other stocks similar to Google Inc (NASDAQ:GOOG). These stocks are Yandex NV (NASDAQ:YNDX), LinkedIn Corp (NYSE:LNKD), Yahoo! Inc. (NASDAQ:YHOO), Baidu.com, Inc. (ADR) (NASDAQ:BIDU), and Facebook Inc (NASDAQ:FB). This group of stocks belong to the internet information providers industry and their market caps match GOOG’s market cap.