Bearish outlook, conservative targets prompt spike in Seatrium’s short interest

A COMBINATION of deeper full-year losses, fairly conservative financial targets, as well as a bearish and uncertain sector outlook has led to a spike in the short interest levels of Seatrium . 

The offshore and marine giant was, as a result, the second most shorted stock on the Singapore Exchange (SGX) for the week ended Wednesday (Apr 3), a report from S&P Global Market Intelligence showed. 

Short interest – or the percentage of outstanding shares on loan – in Seatrium stood at 6.43 per cent for the week. The number of Seatrium shares that were out on loan over the last seven days was up 6.58 per cent. S&P excludes financing and pay to hold trades from the loan quantity.