The following is a list of high growth stocks being targeted by short sellers. This list might offer an interesting starting point for growth investors looking to capitalize on a potential short squeeze.

To create the list, we started with a universe of about 150 growth stocks with short floats higher than 20%. We then narrowed down the list by focusing on the companies that saw the largest increase in shares shorted between 9/15 - 12/15.

Is this excessive pessimism justified? What do you think? Full details below.

Short trends data sourced from AOL Money, EPS projections and performance data sourced from Finviz.

*Interactive Chart: Press Play to compare changes in analyst ratings over the last two years for the top six stocks mentioned below. Analyst ratings sourced from Zacks Investment Research. Note: The numbers on top of items represent the forward P/E ratio, if available.*

The list has been sorted by the short ratio. A reminder: All short trends described occur between 9/15 - 12/15.

* 1. Mindray Medical International Limited (NYSE:MR): *Medical Instruments & Supplies Industry. Market cap of $2.99B. EPS projected to grow by 19.85% over the next five years. Current shares shorted at 16.20M vs. 15.06M shares shorted three months ago. Short float at 20.62%, which implies a short ratio of 22.29 days. The stock has lost -20.02% over the last year.

* 2. LAN Airlines S.A. (NYSE:LFL): *Regional Airlines Industry. Market cap of $10.47B. EPS projected to grow by 18.8% over the next five years. Current shares shorted at 6.88M vs. 5.17M shares shorted three months ago. Short float at 35.53%, which implies a short ratio of 20.02 days. The stock has gained 86.08% over the last year.

* 3. Tower Group Inc. (NASDAQ:TWGP): *Property & Casualty Insurance Industry. Market cap of $1.1B. EPS projected to grow by 21.25% over the next five years. Current shares shorted at 4.32M vs. 3.50M shares shorted three months ago. Short float at 11.37%, which implies a short ratio of 16.27 days. The stock has gained 16.31% over the last year.

* 4. rue21, Inc. (NASDAQ:RUE):* Apparel Stores Industry. Market cap of $733.M. EPS projected to grow by 23.% over the next five years. Current shares shorted at 2.45M vs. 1.69M shares shorted three months ago. Short float at 10.99%, which implies a short ratio of 15.97 days. The stock has gained 9.24% over the last year.

* 5. Exterran Holdings, Inc. (EXH): *Oil & Gas Equipment & Services Industry. Market cap of $1.5B. EPS projected to grow by 25.% over the next five years. Current shares shorted at 8.28M vs. 8.05M shares shorted three months ago. Short float at 13.17%, which implies a short ratio of 15.24 days. The stock has gained 10.91% over the last year.

* 6. Terremark Worldwide, Inc. (NASDAQ:TMRK):* Telecom Services Industry. Market cap of $860.05M. EPS projected to grow by 21.25% over the next five years. Current shares shorted at 8.29M vs. 6.74M shares shorted three months ago. Short float at 16.6%, which implies a short ratio of 15.13 days. The stock has gained 73.53% over the last year.

* 7. L-1 Identity Solutions Inc. (NYSE:ID):* Security & Protection Services Industry. Market cap of $1.11B. EPS projected to grow by 20.% over the next five years. Current shares shorted at 10.41M vs. 9.40M shares shorted three months ago. Short float at 13.42%, which implies a short ratio of 12.84 days. The stock has gained 59.15% over the last year.

* 8. Capella Education Co. (NASDAQ:CPLA):* Education & Training Services Industry. Market cap of $1.13B. EPS projected to grow by 19.91% over the next five years. Current shares shorted at 2.95M vs. 2.53M shares shorted three months ago. Short float at 19.52%, which implies a short ratio of 10.77 days. The stock has lost -8.68% over the last year.

* 9. Vistaprint N.V. (VPRT):* Business Services Industry. Market cap of $2.03B. EPS projected to grow by 21.17% over the next five years. Current shares shorted at 5.74M vs. 3.70M shares shorted three months ago. Short float at 13.72%, which implies a short ratio of 10.47 days. The stock has lost -17.78% over the last year.

* 10. LogMeIn, Inc. (NASDAQ:LOGM):* Information Technology Services Industry. Market cap of $1.05B. EPS projected to grow by 21.% over the next five years. Current shares shorted at 3.00M vs. 2.67M shares shorted three months ago. Short float at 13.71%, which implies a short ratio of 9.97 days. The stock has gained 118.2% over the last year.

* 11. Duoyuan Global Water Inc. (DGW):* Pollution & Treatment Controls Industry. Market cap of $319.19M. EPS projected to grow by 30.13% over the next five years. Current shares shorted at 3.28M vs. 2.61M shares shorted three months ago. Short float at 26.32%, which implies a short ratio of 9.78 days. The stock has lost -65.4% over the last year.

* 12. Boise Inc. (NYSE:BZ):* Paper & Paper Products Industry. Market cap of $686.56M. EPS projected to grow by 20.% over the next five years. Current shares shorted at 13.43M vs. 8.77M shares shorted three months ago. Short float at 18.31%, which implies a short ratio of 9.03 days. The stock has gained 51.97% over the last year.

* 13. Deer Consumer Products, Inc. (OTC:DEER):* Home Furnishings & Fixtures Industry. Market cap of $393.M. EPS projected to grow by 30.% over the next five years. Current shares shorted at 2.37M vs. 2.00M shares shorted three months ago. Short float at 13.16%, which implies a short ratio of 8.39 days. The stock has gained 5.31% over the last year.

* 14. Pegasystems Inc. (NASDAQ:PEGA):* Business Software & Services Industry. Market cap of $1.36B. EPS projected to grow by 24.% over the next five years. Current shares shorted at 2.78M vs. 1.96M shares shorted three months ago. Short float at 17.17%, which implies a short ratio of 8.01 days. The stock has gained 5.74% over the last year.

* 15. Power-One Inc. (NASDAQ:PWER):* Diversified Electronics Industry. Market cap of $1.08B. EPS projected to grow by 24.83% over the next five years. Current shares shorted at 38.25M vs. 20.56M shares shorted three months ago. Short float at 40.49%, which implies a short ratio of 7.1 days. The stock has gained 128.67% over the last year.

* 16. Entropic Communications, Inc. (NASDAQ:ENTR): *Semiconductor Industry. Market cap of $1.02B. EPS projected to grow by 20.66% over the next five years. Current shares shorted at 20.00M vs. 8.43M shares shorted three months ago. Short float at 24.25%, which implies a short ratio of 6.69 days. The stock has gained 274.07% over the last year.

* 17. Cree Inc. (NASDAQ:CREE):* Semiconductor Equipment & Materials Industry. Market cap of $7.3B. EPS projected to grow by 21.79% over the next five years. Current shares shorted at 22.13M vs. 18.93M shares shorted three months ago. Short float at 21.29%, which implies a short ratio of 5.88 days. The stock has gained 18.4% over the last year.

* 18. Atheros Communications Inc. (NASDAQ:ATHR):* Semiconductor Industry. Market cap of $2.65B. EPS projected to grow by 19.8% over the next five years. Current shares shorted at 9.62M vs. 5.97M shares shorted three months ago. Short float at 13.51%, which implies a short ratio of 4.83 days. The stock has gained 5.83% over the last year.

* 19. Yingli Green Energy Holding Co. Ltd. (NYSE:YGE):* Semiconductor Industry. Market cap of $1.5B. EPS projected to grow by 29.4% over the next five years. Current shares shorted at 12.61M vs. 5.44M shares shorted three months ago. Short float at 51.18%, which implies a short ratio of 3.58 days. The stock has lost -38.65% over the last year.

**Disclosure: **I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.