SharonAI Holdings heads into Tuesday's earnings print with short sellers still adding and the stock refusing to give ground — a standoff that has only intensified since the last note filed four days ago.
The bear position has grown further. Estimated short shares reached 4.55 million by June 18, up another 7% on the day and 339% over the past week. That compares with roughly 2.77 million at the time of the prior note. The ORTEX short score has pushed to 81.1 — its highest reading in the data series — up from 77.4 on June 16 and 62 at the start of the month. The direction is unambiguous: bears are adding conviction, not trimming.
The borrow market tells the same story. Availability — the share of lendable supply not yet claimed — has been running below 5% all week. Thursday's reading was 5.3%, barely off the 52-week low of 3.6% recorded on June 17. A week ago, availability was above 43%. The cost to borrow has doubled over the same period, reaching 10.4% on June 18 against roughly 5% a week prior. That combination of near-zero availability and rising cost signals that new short demand continues to arrive even as the pool of shares to borrow is nearly exhausted.
The stock has not cooperated with the bears. SHAZ closed at $92.70 on June 18, up 9% on the day and 30% on the week. The one-month gain is 61%. Options positioning turned sharply toward calls on the final session of the week: the put/call ratio fell to 0.31, against readings above 0.63 every prior day this month. That drop suggests at least some participants shifted from hedging to outright bullish positioning heading into the weekend before the print.
Analyst coverage remains sparse and dated. Three initiation notes — from Compass Point, Lucid Capital Markets, and Cantor Fitzgerald — all carried Buy or Overweight ratings with targets between $40 and $50, all filed in April. With the stock now trading above $92, those targets are well below the current price and offer little current guidance on consensus expectations.
The most recent earnings event, in May, produced a 3% one-day move and a 22% five-day gain. The March print delivered a 27% one-day move and 21% over five days. Both prior reactions were positive and large. Tuesday's report will test whether those historical patterns hold — and whether a crowded, expensive short position unwinds or whether the bears finally find what they came for.
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