Elevate Credit (ELVT) Short Interest Ratio & Short Volume

Short interest is the volume of Elevate Credit shares that have been sold short but have not yet been covered or closed out. As of February 15th, traders have sold 174,100 shares of ELVT short. 0.63% of Elevate Credit's shares are currently sold short. Learn More on Elevate Credit's current short interest.

The short interest ratio, also known as the "days to cover ratio", is calculated by dividing the number of shares of a stock sold short divided by its average trading volume. A short interest ratio ranging between 1 and 4 generally indicates strong positive sentiment about a stock and a lack of short sellers. A short interest ratio of 10 or greater indicates strong pessimism about a stock. ELVT shares currently have a short interest ratio of 1.0. Learn More on Elevate Credit's short interest ratio.

Companies that have a short interest as a percentage of float below 10% indicates positive investor sentiment and few short sellers. Stocks with a short interest percentage above 10% is considered high, suggesting some investors are pessimistic about the stock. Companies with a short interest percentage of 20% or more indicates widespread negative sentiment. 0.63% of Elevate Credit's floating shares are currently sold short.

Elevate Credit saw a increase in short interest in the month of February. As of February 15th, there was short interest totaling 174,100 shares, an increase of 22.0% from the previous total of 142,700 shares. Changes in short volume can be used to identify positive and negative investor sentiment. Investors that short sell a stock are betting that its price will decline in the future. An increase in short sale volume suggests bearish (negative) sentiment among investors. A decrease on short sale volume suggests bullish (positive) sentiment.

Elevate Credit currently has issued a total of 31,460,000 shares. Some of Elevate Credit's outstanding shares are available for trading, while others are subject to various restrictions. The public float, also referred to as floating shares or "the float", are shares that publicly owned, unrestricted and available to trade on the open market. Elevate Credit currently has a public float of 27,640,000 shares.

0.63% of Elevate Credit's shares are currently sold short. Here is how the short interest of companies in the industry of "nondepository credit institutions" compare to Elevate Credit: Medallion Financial Corp. (5.61%), Oportun Financial Co. (0.64%), Consumer Portfolio Services, Inc. (3.41%), Bakkt Holdings, Inc. (23.75%), Bitcoin Depot Inc. (2.28%), The9 Limited (2.21%), CNFinance Holdings Limited (0.23%), Digihost Technology Inc. (1.20%), Stronghold Digital Mining, Inc. (5.15%), MDB Capital Holdings, LLC (0.03%),

As of the most recent reporting period, the following stocks had the largest short interest positions: Enbridge Inc. ($4.09 billion), Occidental Petroleum Co. ($3.00 billion), T. Rowe Price Group, Inc. ($2.35 billion), Coinbase Global, Inc. ($2.30 billion), Paramount Global ($2.04 billion), Etsy, Inc. ($1.90 billion), Voya Financial, Inc. ($1.77 billion), CarMax, Inc. ($1.67 billion), Royal Caribbean Cruises Ltd. ($1.58 billion), and Monolithic Power Systems, Inc. ($1.47 billion). View all of the most shorted stocks.

Short selling ELVT is an investing strategy that aims to generate trading profit from Elevate Credit as its price is falling. ELVT shares are trading up $0.01 today. To short a stock, an investor borrows shares, sells them and buys the shares back on the public market later to return it to the lender. Short sellers are betting that a stock will decline in price. If the stock does drop after selling, the short seller buys it back at a lower price and returns it to the lender. The difference between the sell price and the buy price is the trader's profit.

A short squeeze for Elevate Credit occurs when it has a large amount of short interest and its stock increases in price. This forces short sellers to cover their short interest positions by buying actual shares of ELVT, which in turn drives the price of the stock up even further.

Short interest is typically published by a stock exchange once per month. However, NASDAQ publishes a report for U.S. stocks, including ELVT, twice per month. The most recent reporting period available is February, 15 2023.