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Top of hot stocks: Cosmo Pharmaceuticals and iRobot Corporation


01 August 2018 London
Reporter: Jenna Lomax

Generic business image for news article
Image: Shutterstock
Cosmo Pharmaceuticals led the FIS Astec Analytics hot stocks list for Europe, the Middle East, and Africa last week (ending 27 July).

The Netherlands-based, but Switzerland-listed, pharmaceutical company made its debut on the hot stocks list after short sellers built up their positions steadily through the second half of 2017.

On 8 May, the shares were down to a 12-month low, a drop of 30 percent.

Since then, short interest volume has dropped a net 14 percent but utilisation fell just 2 percent as supply tightened.

According to Cosmo, this indicates a sell off from larger investors as they lose faith in Cosmo.

Following Cosmo was Euronav NV, who has been absent from the hot stocks list since the first week of June.

The Belgium-based provider of transport and storage facilities for the oil and petroleum industry, is back this week as its shares were down 8 percent.

Top of the Americas hot stocks list this week is iRobot, the consumer robot company providing robots.

Tesla, the electric vehicle and renewable energy corporation, is back on the hot stocks list this week as short sellers continue to increase their positions.

FIS found volume advanced by just over 2 percent, while utilisation remained level as just under 90 percent, suggesting a small amount of new supply became available.
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