Stock Alert: Garmin Ltd.

• Garmin Ltd. (NASDAQ:GRMN), the largest producer of mobile navigation systems in the U.S., missed second-quarter earnings estimates and cut its full year forecasts Wednesday 3rd, June.

• Short interest increased from 6% to 8% of total shares outstanding in the two months ahead of its earnings update. This represents 80% of the lendable supply.

• In contrast to the bearish sentiment from the short side of the market, institutional ownership of large funds who lend has increased by 10% since June.

• In June, we noted that “the data shows that investors tend to believe that the chances of Garmin holding a big market share of the motoring sat nav’ market is looking less and less likely.” To read this report, please click here.

• Competitor short interest; TOMTOM NV (AMS:TOM2) and Telenav Inc (NASDAQ:TNAV) see 30% and 2.5% of total shares outstanding on loan, respectively.