Sivers Semiconductors: Short Interest Hits 6.8% Even as $6.6M Defense Award and 23% Surge Rewrite the Narrative

Short sellers maintain positions as Sivers stock jumps 23.45%, with $6.6M defense award and Q1 report due May 29 potentially triggering a squeeze.

The bears are not blinking. Short interest in Sivers Semiconductors has climbed to 6.8% of share capital as of May 22, according to Sweden’s Finansinspektionen — a level more than eight times the 0.8% recorded six months ago. That persistent positioning comes despite a sharp 23.45% rally in the stock on the same day to SEK 72.90 in Stockholm, and a fresh $6.6 million Pentagon award announced just days earlier.

Three institutional investors now hold reportable short positions above the 0.5% threshold. Voleon Capital Management leads at 2.44%, last adjusted on May 20, followed by Two Sigma Investments at 2.10% (updated May 22) and Anson Advisors at 0.50% (updated May 13). The fact that Two Sigma and Voleon kept their bets largely unchanged through the recent spike suggests professional short sellers see the rally as overdone — or at least worth riding out.

The defense funding comes from the second year of the EW STAR project under the US Microelectronics Commons program, a $6.6 million tranche awarded on May 19 via the Northeast Microelectronics Coalition Hub. The program, backed by the CHIPS and Science Act, is developing broadband antenna arrays for electronic warfare, communications, and radar systems, with dual-use applications in satellite comms and AI data centres. Sivers’ ability to secure the award based on prior technical milestones cements its place in the US defence ecosystem.

All eyes now turn to the Q1 interim report due May 29. Strong revenue and cash flow numbers could trigger a short squeeze, forcing the bears to cover. A miss, on the other hand, would vindicate the sceptics. With the annual general meeting set for June 15 and a half-year report due August 6, Sivers faces a packed calendar where the gap between narrative and fundamentals may finally narrow.