Short Sellers Hit Attack Mode in SIRIUS XM (SIRI)

The short interest as of the November 30 settlement date rose more than 11% to  294,696,977 shares versus a reading of 263,937,182 shares based upon the November 15 settlement date.  What is interesting here is that this represents the highest short interest in the number of shares since back at the July 29, 2011 settlement date and it appears to be the third highest short interest reading for the stock in all of 2010.

It was just on December 9 that SIRIUS XM was rated as the Bull of the Day in a very positive upgrade by Zacks Investment Research.  Citigroup had also raised its rating to “Buy” with a $2.20 price target objective.

Maybe the short sellers thought that the holiday sales and retail were going to be weaker than what we have so far seen this holiday season.

SIRIUS shares are up about 1% so far today at $1.765 versus a 52-week range of $1.27 to $2.44.

JON C. OGG