3 Growth Stocks Defying the Downturn
05/24/2012 9:30 am EST
A stock screen courtesy of Kapitall.com uncovers a trio of stocks with impressive growth prospects and strong upward momentum in a difficult market, both traits that have short sellers jumping ship.
Interested in trading growth stocks with strong momentum? For a closer look at some high-growth names, we ran a screen.
We began by screening for stocks with high growth prospects, with five-year projected earnings per share (EPS) growth above 15%.
We then screened for those with strong upward momentum, trading above their 20-day, 50-day, and 200-day moving averages.
Finally, we screened for those with bullish sentiment from short sellers, with significant decreases in shares shorted month-over-month representing at least 2% of share float. This indicates that short sellers are less bearish on these names than they were a month ago.
Mellanox Technologies, Ltd. (MLNX) engages in the design, development, marketing, and sale of interconnect products primarily in North America, Israel, Europe, and Asia and has a market cap of $2.19 billion. It has a five-year projected earnings-per-share (EPS) growth of 20%.
Shares shorted have decreased from 2.07 million to 421,590 over the last month, a decrease which represents about 5.29% of the company’s float of 31.19 million shares. It has a “days to cover” ratio (how many trading sessions it would take to close short positions at the current rate) of 0.99 days.
Internet Initiative Japan Inc. (IIJI) provides Internet connectivity, outsourcing, and systems integration services to customers primarily in Japan and has a market cap of $750.71 million. It has a five-year projected EPS growth of 31.10%.
Shares shorted have decreased from 26,430 to 20,210 over the last month, a decrease which represents about 3.07% of the company’s float of 202,320 shares. It has a “days to cover” ratio of 1.63 days.
Athenahealth, Inc. (ATHN) provides ongoing billing, clinical-related, and other related services to medical group practices primarily in the United States and has a market cap at $2.58 billion. It has a five-year projected EPS growth of 30.17%.
Shares shorted have decreased from 9.34 million to 8.62 million over the last month, a decrease which represents about 2.05% of the company’s float of 35.14 million shares. It has a “days to cover” ratio of 18.52 days.
By the Staff at Kapitall.com