TASK reports earnings tonight. Short sellers have spent the past two weeks building aggressive positions — and now the borrow market is nearly locked shut.
Short interest has surged 40% in a single week to 10.5% of free float. Over the past month, it has risen 62%. That is a rapid, concentrated build.
Availability has collapsed from above 350% in late June to just 12.5% today. A month ago, there were more than three shares available to borrow for every one already shorted. Now there is barely one share for every eight. The lending market has gone from loose to extremely tight in roughly six weeks.
Cost to borrow has risen 80% in a week to 1.36%. That remains a low absolute rate, but the direction is clear. As availability tightens further, the cost to maintain short positions will climb.
The ORTEX short score sits at 73.7 — elevated, and up sharply from 67.2 two weeks ago.
The put/call ratio stands at 0.07. That is well below the 20-day average of 0.14. Options positioning is heavily skewed toward calls. Short sellers are pressing the stock through the lending market while options buyers are positioned for upside. Both camps are making a directional bet into tonight's number.
The stock has gained 30% over the past month. It trades at a P/E of 4.2 and an EV/EBITDA of 2.6. Analysts carry a mean price target of $9.50 against a $6.54 close — implied upside of roughly 45%.
Goldman Sachs maintains a Sell with a $7 target. Wedbush holds Outperform at $12. The street is split.
Tonight's print is the event that resolves the tension. A strong result squeezes a heavily-shorted, tightly-borrowed float. A weak result validates the short thesis just as borrow costs begin to bite.
Data summary
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