Ferrari Stock Blows Past Short Sellers Once Again

RACE shares have more than doubled over the past year

Feb 1, 2018 at 1:22 PM
facebook X logo linkedin


Ferrari N.V. (NYSE:RACE) is trading up 7.2% today at $128.15 after the company said 2017 was a record year, while announcing plans to double its core earnings by 2022. This brings the stock's one-year gain to 107% and it earlier traded at a record high of $129.87. In the meantime, RACE shares have been crushing short sellers, who've continued betting against the equity in recent months.

Looking closer, short interest on Ferrari increased by 19% in the last two-week reporting period alone. Going by the stock's average daily trading volume, it would now take these bears more than eight days to buy back their positions. This points to more than enough buying power on the sidelines that could come in and lift RACE higher.

On the other hand, options activity has been bullish. In fact, call buying has tripled put buying during the past two weeks at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX). The largest increase in open interest during this time span occurred at the March 140 call, with the June 160 call taking second place. It should be noted, though, that some call buying could have been from shorts hedging their bets.

As for analysts, three of the five in coverage have "strong buy" ratings in place, but the average 12-month price target is now below current levels, checking in at $118.76. Considering this, a round of post-earnings bull notes could be coming down the pipe.

 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI