SCHMID Group heads into its May 18 earnings report with short sellers charging in even as the stock rallies — a pointed divergence that sets up a tense read.
Short interest has jumped 55% in a single week to roughly 1.82 million shares, the fastest accumulation in the past six weeks. That acceleration is conspicuous because it arrived alongside a 17% weekly gain and a 7.6% single-session pop on May 14 — bears are pressing into strength. The ORTEX short score has climbed to 69.2, the highest reading of the past ten sessions, putting SHMD in elevated territory relative to its peer group. Short interest now represents 11.7% of free float, a level significant enough to generate real squeeze dynamics if the print surprises to the upside.
The borrow market tells a more nuanced story. Availability at 174% means lenders still have capacity relative to existing short positions — there is no immediate squeeze constraint from the lending pool. Cost to borrow has eased from a monthly peak above 17% down to 11.1%, suggesting some of the earlier urgency in the borrow market has faded. What's notable, however, is that even as shorts ramped aggressively this week, the availability did not tighten materially. New short demand is being absorbed without straining supply — for now.
The ownership structure adds important context. The Schmid family and affiliated heirs collectively hold more than 70% of shares, leaving a very thin free float. Christian Schmid reduced his position by 1.9 million shares in the most recently reported period, and Xinjin Investment Holding trimmed by roughly 1 million shares — two of the company's largest holders both lightening up. Against that backdrop, the preliminary Q1 sales figure of €18.2 million, released April 27, provided an anchoring data point: management affirmed full-year sales, adjusted EBITDA, and order intake guidance, which helped lift the stock off its April lows. The full Q1 report on Sunday will test whether the headline number holds up under closer scrutiny — particularly on order intake trends and margin direction — against a backdrop where two controlling shareholders have been net sellers.
The prior two earnings reactions offer a sobering pattern. The February 2026 print sent the stock down 7.1% on the day and 9.8% over the following five sessions. The May 2025 event was sharper still, with a 15.4% single-day decline. Bears pressing into this week's rally may be counting on history to repeat; bulls are betting that the April guidance reaffirmation — and an 11-session stock recovery from the lows — signals a cleaner setup than last time. With shorts at their most aggressive in weeks and a family-dominated float that amplifies every move, the Sunday print will force a resolution between those two camps.
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