The reason why there is such an increase in short interest is that the trend indicates the traditional sell into expectation then buy back after earnings. Typically this stock has done exactely that 1/4 upon 1/4. Analyst holding short positions, funds having sold calls will maximise their profits and minimise their exposure by pumping ANY negative sentiment that may be out there. Big players won't let the price appreciate too quickly, after all this is the 1/4 after 1/4 cash cow they have been milking for the last 5+ years.
Do you really think they will let the price get to fair value, with a fair PE of 15. I don't think so, big players have too much to lose.