American Dairy: Short Covering

American Dairy (ADY) announces its earnings results today. There has been some short covering in this stock which is down from 5% of its shares outstanding on loan (%SOOL) in January to 2.2% now. Utilisation is at 40%. However, the share price was down 7% yesterday, so it will be interesting to see what happens during the rest of the week.

In the rest of the American Food sector, National Beverage Corp (FIZZ) has 0.9% of its SOOL, Pepsico (PEP) Inc has 0.5%, and Coca Cola (KO) has 1.1% which means that American Dairy has a significantly large amount of its SOOL.

In Europe, Groupe Danone (DA) is the third most borrowed stock in the sector with 8.42% SOOL, after Nestle Sa (NSRGY.PK) at 17.58% and Pernod Ricard (PDRDF.PK) at 9.89%. There has been some short covering in Nestle, down from 22%, but this is still a considerable amount.

Please see this chart of Nestle below.

click to enlarge

Disclosure: None