Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Vestas Short Sales Rise to Record After Cutting Sales Forecast

Jan. 6 (Bloomberg) -- Short sales of Vestas Wind Systems A/S rose to a record after the world’s biggest wind turbine maker cut its revenue forecast for the second time in three months.

Short positions in Vestas rose to 17.8 percent as of Jan. 4, the most in more than five years, according to figures on Bloomberg compiled by Data Explorers Inc. Short sellers borrow stocks and sell them in the anticipation of profiting by repurchasing the securities later at a lower price.

The company, based in Aarhus, Denmark, on Jan. 3 pared its revenue forecast for 2011 by 400 million euros to 6 billion euros, after slashing 600 million euros from an earlier forecast of 7 billion euros on Oct. 30. Orders for 2011 will total 7.4 gigawatts, meeting the turbine maker’s forecasts.

The short-selling data series goes back to July 2006. The Jan. 4 record follows the previous high of 17.3 percent on Dec. 27. Vestas today rose 3.9 percent to 57.15 kroner ($9.84) as of 10:30 a.m. in Copenhagen after losing more than a fifth of its value in two days.

To contact the reporter on this story: Alex Morales in London at amorales2@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.