Sable Offshore Corp (SOC) News & EventsSOCSable Offshore Corp

Sable Reports Q2 Revenue of $137.13M

Reports Q2 revenue $137.13M. Chairman and Chief Executive Officer, Jim Flores said, "The Sable team was able to make strong progress in ramping up operations in the second quarter. We are encouraged by the productivity of the wells at the SYU with their higher than expected production with minimal to no observable decline." He continued, "Through the various solutions we have identified, we look forward to working with our midstream and downstream partners to maximize the amount of domestic crude oil from the SYU getting to market for the benefit of California consumers and the U.S. Military and its allies globally."

Avis Budget Short Interest Rises to 36.2%

Welcome to this week's installment of "The Short Interest Report" - The Fly's weekly recap of short interest trends among some of the most widely followed high-short-float stocks. Using the data from our partner, which utilizes the latest information from stock lenders to estimate short interest changes for thousands of publicly traded companies, this report will screen for some of biggest changes in short interest as a percentage of free float and days-to-cover ratios while also considering the short interest data on some of the more volatile and heavier-traded names of the week. Based on the availability of data from Ortex, the report tracks the trading period that covers prior Friday through Thursday of this week, excluding holidays. As a basis of comparison for stocks discussed below, the S&P 500 index was up 0.4%, the Nasdaq Composite was down 0.1%, the Russell 2000 index was up 0.2%, the Russell 2000 Growth ETFwas down 0.1% and the Russell 2000 Value ETFwas up 0.5% in the five-day trading session range through July 30.SHORT INTEREST GAINERSOrtex-reported short interest in Avis Budget Grouphad fallen to a 15-month low of 29% of free float late last week before reversing sharply higher to 36.2% this week as the stock took another leg lower following its July 28 Q2 earnings release. The abrupt increase suggests bearish investors reestablished positions after the post-earnings selloff, reversing what had been a steady reduction in short exposure. Days to cover also surged from 3.8 to 6.7, reflecting a significantly larger short position relative to recent trading volumes. Shares declined 4% during the five-day reporting period and fell an additional 9.6% on Friday, leaving the stock at its lowest level since March.Ortex-reported short interest in Sable Offshorehas accelerated sharply after bottoming at 24.2% of free float on July 10, rising for three consecutive weeks and jumping from 32.4% to 43.7% in the latest reporting period, the highest level in four months. Bearish conviction has strengthened as investors continue to question the company's operational and regulatory outlook despite recent attempts at a rebound. Days to cover climbed from 4.2 to 5.4, indicating that the expanding short position would require more trading days to unwind. The stock declined 4% during the five-day period covered by the data and has now fallen by 41 year-to-date, although shares staged an 18% rally on Friday.Ortex-reported short interest in Intuitive Machineshad troughed at a four-month low in mid-May but has since trended higher while the stock apexed at the end of May and then sold off sharply, tracking the cratering in the "north star" of space economy – SpaceX. This week, short interest as a percentage of free float in Intuitive Machines jumped from 26.7% to 32.1% - a four-month high. The stock was down 10% in the five-day period covered and has now lost 24% year-to-date. Shares were up as much as 188% year-to-date through its peak on May 28, but have now lost 74% of that value.SHORT INTEREST DECLINERSOrtex-reported short interest in UiPathhas retreated for a second consecutive week after peaking at an all-time high above 36% of free float on July 14, with bearish positioning falling from 33.8% to 27.0% in the latest reporting period, the lowest level since May 11. The decline suggests short sellers have been locking in profits as the stock has extended its recent rebound. Days to cover also fell from 2.6 to 2.0, the lowest level since the first week of January, as trading volumes accelerated significantly throughout July. Shares gained 21.3% during the five-day period covered, although the stock remains 22% lower year to date. While UiPath continues to rank among the more heavily shorted software names, the sharp reduction in short interest and improving liquidity point to a meaningful easing in bearish conviction over the past two weeks and tracks with broader repositioning from the overbought semiconductor space toward the oversold software sector.Ortex-reported short interest in Figmahas retreated sharply after peaking at an all-time high above 36% of free float on July 6 and consolidating in the 33%–36% range over the past month. In the latest reporting period, bearish positioning plunged from 33.9% to 25.9%, the lowest level since the last week of May, suggesting short sellers have been aggressively covering into the stock's recent strength. Days to cover also declined from 4.0 to 3.0 as trading volumes continued to build steadily. Shares gained 19% during the five-day period covered, though the stock remains 35% lower year to date. The combination of heavy short covering, lower days to cover, and rising trading activity points to a meaningful easing in bearish sentiment after what had been one of the market's most crowded short positions.