INDO, IMPP and ENSV oil stocks are some of the best near-term compression opportunities

With the S&P500 in correctional territory and the Nasdaq Compound in bear market territory, interest in short-term stocks only increased. This week, oil stocks make up the top three names on Fintel’s Short Squeeze Ranking. Additionally, the Russian-Ukrainian conflict has put more of a focus on oil companies, especially with President Joe Biden’s ban on Russian oil imports. Putin also signed a decree banning Russian exports of raw materials until the end of 2022.

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Fintel is a great resource for tracking stocks with high short interest (SI) as the website publishes a list of stocks with high compression potential. The list is based on its proprietary ranking system, which takes into account metrics such as short-term interest as a percentage of free float, borrowing cost rates and volume. Additionally, the site assigns stocks a “short squeeze score” on a scale of 0 to 100. A short squeeze score of 100 signifies a high likelihood of a short squeeze while a ranking of 0 implies a low likelihood.

Without further ado, let’s jump into Fintel’s best short-term candidates for this week.

Oil stocks lead the top five short-term stocks

  1. Indonesia Energy (NYSEAMERICAN:INDO) topped this list with a score of 99.86. The energy company secured the top spot this week after ranking eleventh the previous week. Currently, Indonesia Energy has an SI as a percentage of free float of 80.47%. On top of that, the cost of borrowing stock short of INDO stock is 772%.
  2. Enservco (NYSEAMERICAN:ENSV) ranks second on this list with a score of 99.64. ENSV shares have appreciated nearly 280% since the start of 2022. Additionally, the stock’s SI has risen more than 400% in the past month, with speculators betting on its fall. Investors must be willing to pay to borrow shares below ENSV shares; the company applies a borrowing cost rate of 231%.
  3. Imperial Oil (NASDAQ:IMPP) is the last of the oil stocks in Fintel’s Top five. Like Enservco, the IMPP stock had a memorable 2o22 in the face of the Russian-Ukrainian conflict. However, the shorts are just around the corner. Imperial has an SI as a percentage of free float of 44.1%. Additionally, short interest has increased by more than 1,500% in the past month.
  4. AppHarvest (NASDAQ:APP) is fourth on the list after placing third the previous week. The indoor farm company has a short compression score of 97.98. Additionally, AppHarvest carries an SI as a percentage of float of 22.22%, which would take 3.8 days to fully cover. However, short interest fell 0.05% from last month, making APPH stock the only name on this list to experience a monthly SI decline.
  5. Ultimately, AST SpaceMobile (NASDAQ:ASTS) ranks fifth on the list with a short score of 97.88. Last week, ASTS stock ranked 18th on Fintel’s listing. The connectivity company has an SI as a percentage of free float of 17.7%. As a result, it would take about half a day to cover all short stocks. Currently, ASTS shares carry a borrowing cost ratio of 38.8%, the lowest of the top five.

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Read more:Penny Stocks – How To Profit Without Getting Scammed

At the date of publication, Eddie Pan did not hold (neither directly nor indirectly) any position in the securities mentioned in this article. The opinions expressed in this article are those of the author, subject to Publication guidelines.

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Felix J. Dixon