Investors Are Shorting the Heck Out of These NYSE Stocks

#2. Pure Storage Inc. (NYSE:PSTG)

– Short Interest Ratio: 49.9%

– Investors with Long Positions (as of June 30): 14

– Aggregate Value of Investors’ Holdings (as of June 30): $101.75 Million

The number of Pure Storage Inc. (NYSE:PSTG) shares short rose by 4.3% in the second half of August to 19.40 million shares. The company’s short interest as a percentage of its float stands at a nerve-racking 53.2% as of August 31. Meanwhile, the hedge fund sentiment towards the data flash storage company remained unchanged during the second quarter at 14 (the number of funds invested in the company). However, the overall value of “smart money” equity stakes in the company declined by 33% quarter-over-quarter to $101.75 million, mainly reflecting a fall of 22% in the value of Pure Storage shares. In late August, analysts at Oppenheimer upgraded Pure Storage to ‘Outperform’ from ‘Perform’, saying that they are “bullish on Pure’s progress toward cash flow break-even and profitability, and its ability to capitalize on differentiated technology, AFA [all-flash array] growth, and on expansion opportunities with new products, new customers, and internationally.” Pure Storage’s stock is 11% in the red thus far in 2016. Philippe Laffont’s Coatue Management had 148,157 shares of Pure Storage Inc. (NYSE:PSTG) among its holdings at the end of June.

#1. Adeptus Health Inc. (NYSE:ADPT)

– Short Interest Ratio: 54.4%

– Investors with Long Positions (as of June 30): 24

– Aggregate Value of Investors’ Holdings (as of June 30): $307.27 Million

On August 31, Adeptus Health Inc. (NYSE:ADPT)’s short interest as a percentage of its float was a whopping 54.4%. Adeptus Health’s short interest decreased by around 2% during the second half of August to 7.15 million. The patient-centered healthcare organization providing emergency medial care has seen its market value plunge by 26% since the beginning of 2016. There were 24 hedge fund firms from our system with long positions in Adeptus Health at the end of June, as compared to 25 recorded at the end of March. Despite the fall in the number of funds invested in Adeptus and the 7%-decrease in the value of Adeptus shares, the aggregate value of those positions rose by 40% quarter-over-quarter to $307.27 million. The company’s system-wide net patient services revenue for the six months that ended June 30 increased by 50.0% year-on-year to $282.7 million, mainly due to increased patient volumes from the expansion of the number of freestanding facilities, annual gross charge increases and sustained growth of its hospitals and their hospital outpatient departments in Arizona and Texas. James E. Flynn’s Deerfield Management owns 1.60 million shares of Adeptus Health Inc. (NYSE:ADPT) as of June 30.

Disclosure: None