These AMEX Stocks Are Heavily Shorted Now

Following is information on the 10 most-shorted stocks on the American Stock Exchange as of the end of May:

  1. Northern Oil and Gas, Inc. (AMEX:NOG): This company had 22,473,923 shares sold short on 05 27 2011, as compared to 23,510,020 on 05 13 2011. This represents a change of -1,036,097, or -4.4%. Based on the average daily volume of 2,293,883 shares, it takes 10 days to cover the short position. About the company:  Northern Oil and Gas, Inc. is an oil and gas exploration and production company. The Company is currently focused on the Rocky Mountain regions of the United States.
  2. Kodiak Oil & Gas Corp (AMEX:KOG): This company had 21,397,278 shares sold short on 05 27 2011, as compared to 20,731,344 on 05 13 2011. This represents a change of 665,934, or 3.2%. Based on the average daily volume of 2,888,001 shares, it takes 7 days to cover the short position. About the company:  Kodiak Oil & Gas Corporation explores for oil and natural gas in the western United States.
  3. HyperDynamics Corporation (AMEX:HDY): This company had 17,913,697 shares sold short on 05 27 2011, as compared to 16,600,143 on 05 13 2011. This represents a change of 1,313,554, or 7.9%. Based on the average daily volume of 3,652,616 shares, it takes 5 days to cover the short position. About the company:  Hyperdynamics Corp. is a Houston-based company whose operations include two wholly owned subsidiaries, SCS Corporation and HYD Resources, which are focused on oil and gas exploration.
  4. Cheniere Energy, Inc. (AMEX:LNG): This company had 15,355,427 shares sold short on 05 27 2011, as compared to 15,507,469 on 05 13 2011. This represents a change of -152,042, or -1.0%. Based on the average daily volume of 5,509,317 shares, it takes 3 days to cover the short position. About the company:  Cheniere Energy, Inc., through subsidiaries, develops liquefied natural gas terminals, and explores for oil and natural gas. The Company explores for oil and gas in the Gulf of Mexico.
  5. Novagold Resources Inc (AMEX:NG): This company had 12,486,677 shares sold short on 05 27 2011, as compared to 11,097,165 on 05 13 2011. This represents a change of 1,389,512, or 12.5%. Based on the average daily volume of 2,870,547 shares, it takes 4 days to cover the short position. About the company:  NovaGold Resources Inc. is a mineral exploration company. The Company, through its subsidiaries, explores and develops mineral properties in North America. NovaGold primarily focuses on gold properties, which may include copper, silver and zinc resources.
  6. Great Basin Gold, Ltd. (AMEX:GBG): This company had 12,217,819 shares sold short on 05 27 2011, as compared to 16,584,360 on 05 13 2011. This represents a change of -4,366,541, or -26.3%. Based on the average daily volume of 2,020,991 shares, it takes 6 days to cover the short position. About the company:  Great Basin Gold Limited explores and develops gold properties. The Company prospects for gold in the Witwatersrand Basin in South Africa and the Carlin Trend in Nevada.
  7. Rentech, Inc. (AMEX:RTK): This company had 11,073,958 shares sold short on 05 27 2011, as compared to 10,550,533 on 05 13 2011. This represents a change of 523,425, or 5.0%. Based on the average daily volume of 2,010,073 shares, it takes 6 days to cover the short position. About the company:  Rentech, Inc. develops and licenses a proprietary and patented process for the conversion of carbon-bearing gases, liquids, and solids into liquid hydrocarbon products. These products include clean burning diesel fuel, naphthas, waxes, petrochemical feedstocks and synthetic lubricant base stock. Rentech’s primary business is licensing this process.
  8. Opko Health Inc. (AMEX:OPK): This company had 9,908,909 shares sold short on 05 27 2011, as compared to 9,291,460 on 05 13 2011. This represents a change of 617,449, or 6.6%. Based on the average daily volume of 666,159 shares, it takes 15 days to cover the short position. About the company:  Opko Health, Inc. is a specialty pharmaceutical company that researches and develops pharmaceuticals. The Company researches treatments for macular degeneration and other ophthalmic diseases.
  9. Northgate Minerals Ltd (AMEX:NXG): This company had 9,679,961 shares sold short on 05 27 2011, as compared to 9,813,542 on 05 13 2011. This represents a change of -133,581, or -1.4%. Based on the average daily volume of 1,567,375 shares, it takes 6 days to cover the short position. About the company:  Northgate Minerals Corporation is a gold and copper mining company. The Company has mines in areas of Canada and Australia.
  10. Cel-Sci Corporation (AMEX:CVM): This company had 9,390,484 shares sold short on 05 27 2011, as compared to 9,309,231 on 05 13 2011. This represents a change of 81,253, or 0.9%. Based on the average daily volume of 648,223 shares, it takes 14 days to cover the short position. About the company:  CEL-SCI Corporation researches and develops certain drugs and vaccines. The Company’s Multikine is being tested to determine if it is effective in improving the immune response of cancer patients. CEL-SCI is also developing other products. The Company is currently targeting diseases such as AIDS, herpes simplex, malaria, tuberculosis, prostate cancer, and breast cancer.

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