Boston Beer Co. (SAM)
Stock gain in past year: 137%
Change in shares shorted: -58%
Change in shares days to cover: -39%
The raw number of shares sold short for Boston Beer Co. (SAM) pales in comparison to the other names on this list. A year ago, just more than 3 million shares of SAM stock were shorted, while that number has declined to 1.3 million as of the end of September.
But since the small-cap beer stock has a mere 8.5 million shares in its float, those numbers are anything but insignificant.
Last October, for example, it would have taken shorts more than a month to cover their positions in SAM, while better than 40% of the the float was held by bears. And even recently, falling trading volume sent days to cover north of 40 even with short interest in a general downward trend.
Now, however, the 1.3 million shares sold short make up less than 20% of the float and would take just under 20 days to cover.
Helping Boston Beer along the way have been a few year-over-year ramps in revenues, as well as a huge earnings improvement and an analyst beat in its most recent quarter.