Shares of Great Basin Scientific Inc (GBSN) Up Big Again. Is This a Short Squeeze?


Over the last two trading days we have been following shares of Great Basin Scientific Inc (NASDAQ:GBSN) to quite an extent. The stock has skyrocketted over the last week alone, and continues to do so today.

While many shareholders are speculating that this price movement has created a major short squeeze, with short interest doubling over the last four weeks, other shareholders speculate that such a move may be playing right into the hands of management who could in fact sell shares into the rally to raise the additional capital they likely will require to continue operations in the long run. As of November 13, short interest was 4.428 million shares. The stock is up 16.74% or $0.018 after the positive news, hitting $0.125 per share. About 14.45 million shares traded hands. GBSN has declined 97.41% since April 24, 2015 and is downtrending. It has underperformed by 96.05% the S&P500.

The institutional sentiment decreased to 2.67 in Q2 2015. Its down Infinity, from Infinity in 2015Q1. The ratio fall, as 2 funds sold all Great Basin Scientific Inc shares owned while 1 reduced positions. 6 funds bought stakes while 2 increased positions. They now own 324,542 shares or 474.04% more from 56,536 shares in 2015Q1.

Green Owl Capital Management Llc holds 0.13% of its portfolio in Great Basin Scientific Inc for 62,000 shares. Sabby Management Llc owns 51,771 shares or 0.01% of their US portfolio. Moreover, A.R.T. Advisors Llc has 0% invested in the company for 12,226 shares. The California-based Blackrock Institutional Trust Company N.A. has invested 0% in the stock. Citadel Advisors Llc, a Illinois-based fund reported 16,596 shares.

Great Basin Scientific, Inc. is a molecular diagnostic testing company. The company has a market cap of $23.93 million. The Firm is focused on the development and commercialization of its molecular diagnostic platform designed to test for infectious disease. It currently has negative earnings. The Firm has a commercially available test, a diagnostic test for clostridium difficile , which received clearance from the Food and Drug Administration (FDA).