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Do you consider yourself a contrarian investor? If so, we ran a screen you may find interesting.

We began by screening for stocks trading under $5 a share that have outperformed the market over the last quarter, with quarterly performance above 10%.

We then screened for those with bearish sentiment from short sellers, with significant increases in shares shorted month-over-month representing at least 2% of share float. This indicates that short sellers are more bearish on these names than they were a month ago.

(click to enlarge)

Tool provided by Kapitall.

Do you think these stocks will see a reversal? Use this list as a starting point for your own analysis.

List sorted by increase in shares shorted month-over-month as a percent of share float.

1. Kingold Jewelry, Inc. (NASDAQ:KGJI): Engages in the designs, manufactures, and sells gold jewelry and Chinese ornaments in the People's Republic of China. Market cap at $134.42M, most recent closing price at $2.57. Performance over the last quarter at 27.14%. Shares shorted have increased from 364.89K to 1.06M over the last month, an increase which represents about 2.69% of the company's float of 25.85M shares. Days to cover ratio at 2.87 days.

2. Glu Mobile, Inc. (NASDAQ:GLUU): Engages in the design, marketing, and sale of casual and traditional mobile games worldwide. Market cap at $294.12M, most recent closing price at $4.43. Performance over the last quarter at 20.63%. Shares shorted have increased from 10.10M to 11.42M over the last month, an increase which represents about 2.5% of the company's float of 52.71M shares. Days to cover ratio at 4.06 days.

3. Affymetrix Inc. (NASDAQ:AFFX): Engages in the development, manufacture, sale, and servicing of consumables and systems for genetic analysis in the life sciences and clinical healthcare markets. Market cap at $340.98M, most recent closing price at $4.72. Performance over the last quarter at 16.07%. Shares shorted have increased from 4.65M to 6.18M over the last month, an increase which represents about 2.44% of the company's float of 62.60M shares. Days to cover ratio at 9.25 days.

*Short data sourced from Yahoo! Finance, all other data sourced from Finviz.

Source: 3 Outperforming Stocks Under $5 With Bearish Short Trends