The shorts are about to get a haircut. That is too much of a short position that has to be covered. Shorters don't hold for months. They will panic and cover. RINO is fine. Their business model is fine and China is doing well. BUY.
what is the date of your info? most likely it is short trading that is behind us. Right now, at this price and chart dynamics, I'd say this was a bottom. They'd be crazy to short here.
IF there are shorts buying here. There is going to be one hell of a squeeze when this price moves up just a little.
Personally, I think RINO's been beaten down by a stupid CEO making a loan, and with a PE being what it is, this should recover to about 26 in a month or so.
your info is very old
(honestly, this stock is not a good short candidate, way too risky)
for all who are interested - let me know if you've got something more current than the nasdaq page:
RINO International Corporation ( RINO) Short Interest
RINO International CorporationNASDAQ-GS
Settlement Date Short Interest Avg Daily Share Volume Days To Cover
3/31/2010 4,729,748 1,015,301 4.658469
3/15/2010 4,464,491 1,315,646 3.393383
2/26/2010 4,134,857 722,072 5.726378
2/12/2010 4,164,897 1,152,401 3.614104
1/29/2010 3,413,713 2,191,870 1.557443
Geez kind of hard to get any more current than that unless you have a crystal ball.
Today is the 14th and they have yet to report the data for the 15th ;)
Plus it takes awhile for the data to come out.
My concern is stock had av volume up day on such a nice market day and the hedges wouldn't cover......interesting. I'm a quick trader though with this stock, so each day is necessary to set buy/sell points.
As the smartest and most objective long on this MB, I must say that the issue of high short ratio concerns me. :-)
I never doubt for a second that someone knows more than I do - there is a fine line between ignorance and irrationality and I don't know where I am now.
Something doesn't smell right, but I can't put my finger on it.
I don't know what the shorts are thinking.
In hind sight from 30 it makes a lot of sense for 2 reasons.
The share offering, anytime you dilute shrs big time you can expect shrs to fall. Note, altough the total shrs increased by only 13% from 25.35 mil to 28.6 mil, really it was more like a 44% or 50% increase in the shares available for trading. How many companies that ever diluted shrs by over 40% can you name where the stock price kept going up over the 3 to 6 months that followed that dilution?
The float before was 7.45 mil, now its 10.7 mil.
Then consider the companys guidance lately
In conference call the total growth of the company is predicted at only 17%, with 13% more shrs out that means essentially flat to only 5% earnings gain.
In the 10K growth for the Desulphurization business predicted to grow at only 5%. Desulph is 60% of their business. The water and sludge treatment is cool, but this has largely been a desulphurization play, where in 2 or 3 year when most sinters are converted there will be minimal if any growth.
As for the way they have handled the accounting numbers and questions on the BOT, plus the CEO borrowing money, I don't know? I suspect the CEO will pay this back and that issue will fade, but are they another FUJI or are they part of the Chinese bubble that Chanos and some funds think will pop, I don't know.
But I certainly wouldn't bet againest em at this price where the P/E is only 10ish, that is for sure.
they have pushed stock from 35 to 20, now its time to get covered and they don't know how to do it without putting the stock back at27-28 level or even higher. the only way to get out is have something really awful happen to stock and then on the selling volume going down theythen would be able to cover without screwing themselves. they should hae been covering the last 4 weeks but instead they are waiting . now they have no exit plan. BOOOO-HOOOOOO