I am looking at share statistics of Virgin Galactic Holdings, Inc. (SPCE) taken ~10 minutes ago.

Shares Outstanding                              234.34M
Float                                           132.72M
% Held by Insiders                              40.00%
% Held by Institutions                          29.72%
Shares Short (Dec 30, 2020)                     43.74M
Short Ratio (Dec 30, 2020)                      2.38
Short % of Float (Dec 30, 2020)                 63.62%
Short % of Shares Outstanding (Dec 30, 2020)    18.66%
Shares Short (prior month Nov 29, 2020)         40.39M

I struggle making sense of the short values. Taking from the statistics, 43.74M shares are short positions, making 63.62% of total float shares.

Applying math: 43.74M / 0.6362 = 68.75M yet share "Float" shares number is said to be 132.72M in the statistics.

Dividing short sales by the total outstanding shares checks out: 43.74M / 234.34M = 18.66%, so the "Short % of Shares Outstanding (Dec 30, 2020) 18.66%" is correct.

I tried playing around with stated values (subtracting 40% of shares held by insiders, etc.) but I the numbers do not add up for me. How can I resolve the mismatch between the "float", "shares short" and the "short % of float" values?

Edit: added Link.

  • Looks like bad math on their part. Is another source available for this data and calculations? Jan 27 at 20:06

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