Options traders have turned sharply bullish on ANRO just days before its May 21 earnings call. The put-call ratio crashed to 0.37 on May 18 — 2.17 standard deviations below its 20-day mean of 0.74. That's the most pronounced call-heavy skew the stock has seen in months.
The timing is deliberate. Earnings are confirmed for May 21. Traders are positioning now.
The options signal doesn't stand alone. Short interest has collapsed 27.4% over the past week to 5.0% of float. A month ago it stood at 6.3%. Bears have been steadily exiting.
The ORTEX short score fell from 57.8 on May 4 to 49.5 by May 15. That's a meaningful drop — crossing below 50 signals the stock is no longer in elevated short-pressure territory.
The borrow market confirms the exit. Cost to borrow sits at 0.87% — down 53% over the past month. Availability stands at 717%, meaning there are roughly seven shares available to borrow for every one currently borrowed. The lending market is wide open. Short sellers face no structural constraint on covering.
Analyst activity has been brisk this week. Baird's Brian Skorney trimmed his target to $36 from $38 on May 18, though he kept his Outperform rating. Wedbush's Laura Chico raised her target to $24 from $21 on May 14 — a notable move from the lone neutral voice in the group.
HC Wainwright holds a $50 target. Jones Trading sits at $44. Chardan Capital is at $30. The mean price target is $35.34 against a current price of $21.80 — implying roughly 62% upside to consensus.
ANRO's EPS momentum factor scores are exceptional: 96th percentile over 30 days, 91st over 90 days. Analyst recommendation divergence sits at the 97th percentile. The quant signals are aligned with the options positioning.
ANRO's last four earnings events all produced negative one-day moves, ranging from -0.4% to -9.2%. The options market is betting that streak ends on May 21. The convergence of short covering, a collapsing put-call ratio, and strong EPS momentum scores sets up a high-stakes read on Thursday's print.
Data summary
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