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Do you look for contrarian opportunities in the market? If so, here's a list you might be interested in. We began by screening for small-cap stocks with bearish sentiment, with short floats above 10%.

To find names that might be ready to rebound from this bearish attention we then looked for significant short covering month-over-month that represents at least 1.5% of share float.

We then screened for large cash cushions. So large, in fact, that the companies in question could run operations (on average) for more than four quarters without earning a single penny in profit.

While nobody would want such shares of such a reckless company, a company's cash cushion speaks volumes about its ability to weather tougher economic times, at least in the near term. Large cash holdings also suggest a company has the ability to buy up new companies and expand operations. It's also important for the smaller cap names that may not be as stable as their large and mega-cap peers.

Four companies made our final list. Do you think these cash-rich stocks are on the verge of a rebound, or even a short squeeze?? Use this list as a starting point for your own analysis.

On average, analysts seem to think these stocks have upside potential. For an ‪interactive version of this chart, click on the image below. Analyst ratings sourced from Zacks Investment Research.‬

1 Universal Display Corp. (PANL): Engages in the research, development, and commercialization of organic light emitting diode ((NASDAQ:OLED)) technologies and materials for use in flat panel display, solid-state lighting, and other product applications.

  • Market cap at $1.39B, most recent closing price at $30.14.
  • Average quarterly operating expense over the last five quarters at $16.93M, vs. most recent cash and short term investments at $243.94M, implies a Cash / Avg. Operating Expense ratio at 14.41.
  • Short float: 27.83% Shares shorted have decreased from 10.59M to 9.87M over the last month, a decrease which represents about 2.05% of the company's float of 35.13M shares. Days to cover ratio at 9.12 days.

2. Repros Therapeutics Inc. (NASDAQ:RPRX): A development stage biopharmaceutical company, engages in the development of new drugs to treat hormonal and reproductive system disorders.

  • Market cap at $363.85M, most recent closing price at $19.52.
  • Average quarterly operating expense over the last five quarters at $4.18M, vs. most recent cash and short term investments at $24.21M, implies a Cash / Avg. Operating Expense ratio at 5.79.
  • Short float: 20.45% Shares shorted have decreased from 5.39M to 3.64M over the last month, a decrease which represents about 16.07% of the company's float of 10.89M shares. Days to cover ratio at 3.6 days.

3. Veeco Instruments Inc. (NASDAQ:VECO): Designs, manufactures, and markets equipment to make high brightness light emitting diodes (HB LEDs), solar panels, hard-disk drives, and other devices.

  • Market cap at $1.27B, most recent closing price at $32.50.
  • Average quarterly operating expense over the last five quarters at $142.2M, vs. most recent cash and short term investments at $572.74M, implies a Cash / Avg. Operating Expense ratio at 4.03.
  • Short float: 14.17% Shares shorted have decreased from 6.12M to 5.49M over the last month, a decrease which represents about 1.65% of the company's float of 38.14M shares. Days to cover ratio at 8.09 days.

4. VirnetX Holding Corp (NYSEMKT:VHC): Engages in developing and commercializing software and technology solutions for securing real-time communications over the Internet.

  • Market cap at $962.13M, most recent closing price at $18.81.
  • Average quarterly operating expense over the last five quarters at $9.19M, vs. most recent cash and short term investments at $46.15M, implies a Cash / Avg. Operating Expense ratio at 5.02.
  • Short float: 35.46% Shares shorted have decreased from 16.61M to 15.19M over the last month, a decrease which represents about 3.36% of the company's float of 42.21M shares. Days to cover ratio at 12.07 days.

Short data sourced from Yahoo! Finance, accounting data sourced from Google Finance. All other data sourced from Finviz.

Source: Shorts Are Covering These 4 Highly Shorted, Cash-Rich Small Caps