Interested in adding some growth to your portfolio? For a closer look at stocks of the tech sector, we ran a screen you might be interested in.
We began by screening the tech sector for stocks that have been outperforming the market, with performance over the last quarter above 20%.
We then screened these names for those with bullish sentiment from short sellers, with significantly fewer shares shorted month-over-month. Since shorting a share indicates the investor expects the stock price to fall, a decrease in shares shorted indicates a bullish change in sentiment.
Interactive Chart: Press Play to compare changes in market cap over the last two years for the stocks mentioned below. Analyst ratings sourced from Zacks Investment Research.
We also created a price-weighted index of the stocks mentioned below, and monitored the performance of the list relative to the S&P 500 index over the last month. To access a complete analysis of this list's recent performance, click here.
Do you think these stocks will continue to outperform? Use this list as a starting point for your own analysis.
List sorted by increase in shares shorted as a percent of share float.
1. Qihoo 360 Technology Co. Ltd (QIHU): Provides Internet and mobile security products in the People's Republic of China. Market cap at $2.77B, most recent closing price at $22.98. Performance over the last quarter at 36.35%. Shares shorted have increased from 11.38M to 13.20M over the last month, an increase which represents about 8.01% of the company's float of 22.72M shares. Days to cover ratio at 6.69 days.
2. AOL, Inc. (AOL): Operates as a Web services company that offers a suite of brands and offerings for the worldwide audience. Market cap at $2.29B, most recent closing price at $24.76. Performance over the last quarter at 57.25%. Shares shorted have increased from 14.43M to 16.28M over the last month, an increase which represents about 2.11% of the company's float of 87.76M shares. Days to cover ratio at 8.68 days.
3. Radvision Ltd. (RVSN): Engages in the design, development, and supply of products and technology that enable real-time voice, video and data communications over packet and mobile third generation (3G) networks, including the Internet and other networks based on the Internet Protocol. Market cap at $216.67M, most recent closing price at $11.77. Performance over the last quarter at 27.16%. Shares shorted have increased from 119.98K to 349.79K over the last month, an increase which represents about 2% of the company's float of 11.47M shares. Days to cover ratio at 1.55 days.
*Short data sourced from Yahoo! Finance, all other data sourced from Finviz.
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.
