The following is a list of highly shorted stocks, with short floats exceeding 15%. Additionally, all of these names mentioned below are deeply undervalued, when comparing the current price to the average analyst target price (used as a proxy for fair value).

Analysts seem to think these companies are deeply undervalued at current levels, while short sellers are positioned for more losses. Of course, the inevitable short-covering might provide some support to these names. What do you think? Full details below.

Price target 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 discount to analyst target price.

* 1. MannKind Corp. (NASDAQ:MNKD):* Biotechnology Industry. Market cap of $642.57M. Price at time of writing $5.31 vs. target price of $8.79 (discount of 39.59%). Short float at 28.54%, which implies a short ratio of 5.5 days. The stock has lost -41.14% over the last year.

* 2. Rubicon Technology, Inc. (NASDAQ:RBCN):* Semiconductor Industry. Market cap of $409.02M. Price at time of writing $18.0 vs. target price of $28.94 (discount of 37.8%). Short float at 42.87%, which implies a short ratio of 15.42 days. The stock has gained 14.59% over the last year.

* 3. SIGA Technologies, Inc. (NASDAQ:SIGA):* Drug Manufacturer. Market cap of $553.84M. Price at time of writing $11.23 vs. target price of $18.0 (discount of 37.61%). Short float at 16.02%, which implies a short ratio of 12.94 days. The stock has gained 93.96% over the last year.

* 4. China Automotive Systems Inc. (NASDAQ:CAAS)*: Auto Parts Industry. Market cap of $350.12M. Price at time of writing $12.65 vs. target price of $19.93 (discount of 36.53%). Short float at 16.04%, which implies a short ratio of 5.05 days. The stock has lost -17.03% over the last year.

* 5. Medifast Inc. (NYSE:MED):* Specialty Retail Industry. Market cap of $374.86M. Price at time of writing $24.63 vs. target price of $38.67 (discount of 36.31%). Short float at 20.8%, which implies a short ratio of 8.63 days. The stock has gained 44.27% over the last year.

* 6. EnerNOC, Inc. (NASDAQ:ENOC):* Business Services Industry. Market cap of $602.31M. Price at time of writing $23.97 vs. target price of $35.28 (discount of 32.06%). Short float at 18.33%, which implies a short ratio of 11.34 days. The stock has lost -20.4% over the last year.

* 7. PMI Group Inc. (PMI):* Surety & Title Insurance Industry. Market cap of $480.29M. Price at time of writing $3.05 vs. target price of $4.46 (discount of 31.61%). Short float at 16.2%, which implies a short ratio of 5.5 days. The stock has gained 36.07% over the last year.

* 8. Coinstar Inc. (CSTR): *Business Equipment Industry. Market cap of $1.23B. Price at time of writing $40.22 vs. target price of $58.04 (discount of 30.7%). Short float at 25.31%, which implies a short ratio of 4.19 days. The stock has gained 45.75% over the last year.

* 9. JA Solar Holdings Co., Ltd. (NASDAQ:JASO): *Semiconductor Industry. Market cap of $1.23B. Price at time of writing $7.39 vs. target price of $10.4 (discount of 28.94%). Short float at 24.83%, which implies a short ratio of 3.69 days. The stock has gained 59.21% over the last year.

* 10. Entropic Communications, Inc. (NASDAQ:ENTR):* Semiconductor Industry. Market cap of $900.07M. Price at time of writing $10.78 vs. target price of $15.15 (discount of 28.84%). Short float at 27.98%, which implies a short ratio of 7.06 days. The stock has gained 231.58% over the last year.

* 11. NutriSystem Inc. (NASDAQ:NTRI):* Consumer Services Industry. Market cap of $507.95M. Price at time of writing $18.92 vs. target price of $26.5 (discount of 28.6%). Short float at 33.82%, which implies a short ratio of 32.34 days. The stock has lost -1.81% over the last year.

* 12. MGIC Investment Corp. (NYSE:MTG):* Surety & Title Insurance Industry. Market cap of $1.68B. Price at time of writing $8.85 vs. target price of $12.2 (discount of 27.46%). Short float at 15.51%, which implies a short ratio of 7.07 days. The stock has gained 32.91% over the last year.

* 13. Clean Energy Fuels Corp. (NASDAQ:CLNE):* Gas Utilities Industry. Market cap of $835.09M. Price at time of writing $12.62 vs. target price of $17.29 (discount of 27.01%). Short float at 18.27%, which implies a short ratio of 7.09 days. The stock has lost -25.57% over the last year.

* 14. Rex Energy Corporation (NASDAQ:REXX):* Oil & Gas Drilling & Exploration Industry. Market cap of $524.09M. Price at time of writing $12.12 vs. target price of $16.29 (discount of 25.6%). Short float at 19.15%, which implies a short ratio of 11.71 days. The stock has gained 3.73% over the last year.

* 15. American Superconductor Corporation (NASDAQ:AMSC):* Diversified Electronics Industry. Market cap of $1.47B. Price at time of writing $28.53 vs. target price of $38.33 (discount of 25.57%). Short float at 24.6%, which implies a short ratio of 12.13 days. The stock has lost -9.66% over the last year.

* 16. GSI Commerce Inc. (NASDAQ:GSIC):* Business Services Industry. Market cap of $1.49B. Price at time of writing $22.63 vs. target price of $30.4 (discount of 25.56%). Short float at 16.54%, which implies a short ratio of 9.37 days. The stock has lost -3.78% over the last year.

* 17. JetBlue Airways Corporation (NASDAQ:JBLU):* Regional Airlines Industry. Market cap of $1.7B. Price at time of writing $5.81 vs. target price of $7.77 (discount of 25.23%). Short float at 17.05%, which implies a short ratio of 7.72 days. The stock has gained 21.34% over the last year.

* 18. hhgregg, Inc. (NYSE:HGG)*: Electronics Stores Industry. Market cap of $738.65M. Price at time of writing $18.50 vs. target price of $24.64 (discount of 24.92%). Short float at 32.47%, which implies a short ratio of 14.62 days. The stock has lost -1.84% over the last year.

* 19. STR Holdings, Inc. (NYSE:STRI):* Specialty Chemicals Industry. Market cap of $810.85M. Price at time of writing $19.80 vs. target price of $26.36 (discount of 24.89%). Short float at 22.72%, which implies a short ratio of 11.68 days. The stock has gained 14.02% over the last year.

* 20. GameStop Corp. (NYSE:GME):* Electronics Stores Industry. Market cap of $3.04B. Price at time of writing $20.20 vs. target price of $26.84 (discount of 24.74%). Short float at 24.83%, which implies a short ratio of 9.31 days. The stock has lost -0.5% 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.