Last report date for short interest was 5/31. It didn't *just now* increase to that. There's a lag in when these are reported. At last report, it was at 16.7% of float, with 5 days to cover -- a healthy but by no means extreme short interest.
No--selling should be done now that gap is filled. Smarts shorts should begin to cover but over a period of time. They are holding the price down today and scooping up shares. I bet we are near 4.50 by month's end.