Most-Shorted Stocks on the NASDAQ to Watch Today

The Dow Jones Industrial Average is trading above 12,900, the S&P 500 Index is trading above 1,350 and the Nasdaq is hovering just under 3,000. Here’s all the latest news around the NASDAQ‘s most shorted stocks:

Sirius XM Radio Inc. (NASDAQ:SIRI): Analyst Barrington believes Sirius XM Radio continues to make progress in the key metrics that matter, and keeps an Outperform rating on the stock with a $3 price target following the company’s Q4 results. The firm thinks interest in Sirius’s story should continue to improve as management delivers on its financial and operational metrics.

Sirius XM Radio Inc. had 304,862,970 shares sold short as of Jan 31st, as compared to 305,095,277 on Jan 13th, which represents a change of -232,307 shares, or -0.1%. Days to cover for this company is 5 and average daily trading volume is 63,744,120.

Frontier Communications Company (NASDAQ:FTR): Macquarie upgraded Frontier following the Q4 report citing improving free cash flow and deleveraging efforts. Price target is $4.65.

Frontier Communications Company had 119,579,601 shares sold short as of Jan 31st, as compared to 75,333,297 on Jan 13th, which represents a change of 44,246,304 shares, or 58.7%. Days to cover for this company is 5 and average daily trading volume is 24,409,233.

Intel Corporation (NASDAQ:INTC): Intel has disclosed more about its next-generation communications platform, codenamed Crystal Forest, including that the platform will better handle data processing across the network while addressing special needs for handling cloud connectivity and content processing.

Intel Corporation had 110,348,353 shares sold short as of Jan 31st, as compared to 131,784,131 on Jan 13th, which represents a change of -21,435,778 shares, or -16.3%. Days to cover for this company is 2 and average daily trading volume is 62,745,831.

Express Scripts, Inc. – Class A Common Stock (NASDAQ:ESRX): William Blair continues to believe the Express Scripts (NASDAQ:ESRX), Medco Health (NYSE:MHS) merger is likely to eventually close, but thinks remedies such as the divestiture of certain specialty or mail order assets are likely. The firm maintains an Outperform rating on Express Scripts and a Market Perform rating on Medco.

Express Scripts, Inc. – Class A Common Stock had 90,581,024 shares sold short as of Jan 31st, as compared to 86,106,752 on Jan 13th, which represents a change of 4,474,272 shares, or 5.2%. Days to cover for this company is 13 and average daily trading volume is 6,860,981.

Dell Inc. (NASDAQ:DELL): Sterne Agee downgraded Dell as the firm doesn’t believe that the company’s risk/reward ratio is compelling at current levels. Target $15.

Dell Inc. had 69,663,886 shares sold short as of Jan 31st, as compared to 69,886,744 on Jan 13th, which represents a change of -222,858 shares, or -0.3%. Days to cover for this company is 4 and average daily trading volume is 15,899,034.

Microsoft Corporation (NASDAQ:MSFT): The ultrabook proportion of global notebook sales is now expected to be 20%, much lower than previous targets, with Taiwanese chain makers saying it has much to do with the computer’s relative undesirability in Europe. Also, Barclays raised Microsoft 2013 earnings estimates ahead of the Windows 8 launch later this year and Office 15 expected in Q1 2013. Share are Equal Weight rated.

Microsoft Corporation had 66,843,628 shares sold short as of Jan 31st, as compared to 101,542,070 on Jan 13th, which represents a change of -34,698,442 shares, or -34.2%. Days to cover for this company is 1 and average daily trading volume is 69,371,513.

PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ):

PowerShares QQQ Trust, Series 1 had 66,401,791 shares sold short as of Jan 31st, as compared to 69,646,547 on Jan 13th, which represents a change of -3,244,756 shares, or -4.7%. Days to cover for this company is 1 and average daily trading volume is 45,461,582.

Cisco Systems, Inc. (NASDAQ:CSCO): Credit Suisse believes Cisco’s gross margins and operating margins will improve near-term as the company benefits from staff reductions and improvement in switching and routing margins. Shares are Outperform rated with a $26 price target.

Cisco Systems, Inc. had 57,664,095 shares sold short as of Jan 31st, as compared to 60,636,580 on Jan 13th, which represents a change of -2,972,485 shares, or -4.9%. Days to cover for this company is 1 and average daily trading volume is 42,081,005.

Micron Technology, Inc. (NASDAQ:MU): Micron could be interested in claiming more than 50% of a likely upcoming $51M private placement in DRAM maker Inotera, making it the firm’s largest shareholder, according to industry sources and reported in Digitimes.

Micron Technology, Inc. had 54,175,032 shares sold short as of Jan 31st, as compared to 68,539,869 on Jan 13th, which represents a change of -14,364,837 shares, or -21.0%. Days to cover for this company is 2 and average daily trading volume is 33,729,359.

Research In Motion Limited (NASDAQ:RIMM): Morgan Stanley’s checks indicate Asian supplier orders fall sharply and as a result the firm lowered Research in Motion’s Q4 and FY13 estimates. Shares are Equal Weight rated. Also, Halliburton (NYSE:HAL) is swapping out thousands of employee BlackBerrys (NASDAQ:RIMM) in favor of the iPhone (NASDAQ:AAPL).

Research In Motion Limited had 47,942,118 shares sold short as of Jan 31st, as compared to 36,600,063 on Jan 13th, which represents a change of 11,342,055 shares, or 31.0%. Days to cover for this company is 1 and average daily trading volume is 33,418,151.

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To contact the reporter on this story: Wall St. Cheat Sheet Staff at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com