The discussion around SoFi's short interest is a key area for understanding market sentiment and potential price action. Fintel's data provides a clear quantitative picture of the current short positioning.
SoFi (SOFI) Short Interest Overview
As of the latest available data, SoFi Technologies, Inc. (SOFI) has a reported short interest of 133.33 million shares.1 This represents 11.44% of its float, indicating a notable portion of the tradable shares are held in short positions.1 The Days to Cover ratio stands at 2.09 days, which suggests it would take approximately two trading days for short sellers to cover their positions, based on average daily trading volume.2
Contextual Insights
- Off-Exchange Activity: A significant portion of trading activity, including short selling, occurs off-exchange. For SOFI, the off-exchange short volume is 10.06 million shares, with an off-exchange short volume ratio of 36.70%.1 This indicates that over a third of the shorting activity is happening outside of traditional exchanges, often in dark pools.
- Borrow Rate: The current borrow rate for SOFI is 0.41%.2 A relatively low borrow rate typically suggests that there isn't extreme demand to short the stock, which can sometimes be a precursor to a short squeeze if the rate spikes significantly.
- Data Frequency: It's important to remember that official short interest figures are published twice monthly by NASDAQ, while Fintel provides daily calculations for metrics like Short Interest % Float based on updated float data.1
While 11.44% short interest is not exceptionally high compared to some heavily shorted stocks, it still represents a substantial bearish bet against the company. Monitoring changes in this figure, alongside the borrow rate and trading volume, can provide further insights into potential market movements.
