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Vestas Short Interest Falls to 2 1/2-Year Low, Markit Data Show

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May 24 (Bloomberg) -- Short interest in Vestas Wind Systems A/S, the wind turbine maker with the most installed capacity, fell to its lowest in more than 2 1/2 years, Markit data on Bloomberg show.

Short positions in Vestas fell to 9.9 percent of outstanding shares as of May 22, the most recent data. That’s the lowest since Sep. 30, 2010, according to Markit data. Short sellers borrow stocks and sell them in the anticipation of profiting by repurchasing the securities later at a lower price.

Short interest in Vestas has been falling since last month, on evidence that the Aarhus, Denmark-based company company is delivering on its two-year turnaround plan. The manufacturer on May 8 posted a narrower first-quarter loss than a year earlier, and its shares in the past month had their longest winning streak since the 1998 initial public offering.

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

To contact the editor responsible for this story: Will Kennedy at wkennedy3@bloomberg.net

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