The lending market for YSS has shifted dramatically. Cost to borrow has tripled in under six weeks. Availability has collapsed to near zero.
Cost to borrow for York Space Systems hit 41.6% on June 4. That's up 114% in a single week and 224% over the past month — from just 10.1% on May 1.
The move is steep. But the availability data tells the sharper story.
Availability — the ratio of shares still available to lend versus those already borrowed — sat at just 6.2% on June 4. That means only one share remains for every sixteen already lent out. For most of the past six weeks, availability was even tighter: it spent multiple consecutive sessions at or below 0.1%, effectively zero.
The ORTEX short score has responded. It rose to 73.5 on June 4, up from 68.7 on May 25 — a steady eight-day climb that reflects the compounding pressure in the lending market.
Short interest in YSS reached approximately 6.99 million shares on June 4. That's up 10.7% over the past week and nearly 9% over the past month.
Bears are adding to a position that is increasingly expensive to hold. With borrow costs at 41.6% annualised and availability near the floor, the cost of maintaining a short here has risen materially.
The stock has not been immune. YSS closed at $29.67 on June 4, down 7.3% over the past week and 7.5% over the past month. Earnings history adds another layer of context: the company dropped 14.9% in a single day following its most recent report in May. The next earnings event is scheduled for August 12.
Analysts have largely maintained bullish ratings through the recent turbulence. Citigroup's John Godyn reiterated a Buy after the May earnings miss, trimming his target from $33 to $31. Needham's Ryan Koontz maintained a $33 Buy on the same day.
The mean analyst price target sits at $34.67 — roughly 17% above the current price. Goldman Sachs holds a Neutral with a $31 target, raised in April from $28. The bear case centres on cost overruns on legacy programs, backlog concerns, and heavy reliance on government contracts.
Availability has been near zero for weeks. Borrow costs are accelerating. Short interest is still rising. That combination means new short sellers face real friction — and existing ones face a growing carrying cost. The August 12 earnings date is the next hard catalyst on the calendar.
Data summary
See the live data behind this article on ORTEX.
Open YSS on ORTEX →ORTEX Market Intelligence content is generated by AI from a snapshot of ORTEX's proprietary data. Content is informational only and does not constitute investment advice.
