Sivers Semiconductors Insider Moves Point in Opposite Directions as Short Pressure Eases
Published on 07/23/2026 at 17:11 | Redaktion boerse-global.de
The boardroom at Sivers Semiconductors is sending mixed signals to the market. Chairman Bami Bastani has been trimming his stake, while CEO Vickram Vathulya is adding to his — a divergence that comes as a major short seller exits the stock and the company prepares for a Nasdaq listing.
Two Sigma Exits as Short Interest Declines
Two Sigma Investments has dropped off the public register of short sellers, having reduced its position from 0.5 percent to below the reporting threshold. That leaves just one disclosed short seller with a 2.76 percent stake in the company.
The retreat marks a continued cooling of bearish bets against the stock. Earlier this year, during an extraordinary rally, short interest had climbed into the high single-digit percentage range. The Swedish Financial Supervisory Authority requires disclosure above 0.1 percent but only publishes positions above 0.5 percent.
The stock has fallen sharply since that rally peaked. At around 3.20 euros, the shares trade roughly 69 percent below the 52-week high of 10.23 euros reached on June 3. The distance from the March low of 0.265 euros still stands at more than 1,100 percent.
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Lock-Up Expiry Triggers Divergent Insider Activity
The improvement in short interest coincides with a flurry of insider transactions following the expiration of a lock-up period. Directors and management had agreed not to sell shares until July 16 after a directed share issue approved by the board on April 16. That restriction has now lapsed.
Bastani moved quickly on the expiry date itself. He sold 275,000 shares, donated 60,000 to charitable organizations, and transferred 70,000 to family members. After all transactions, he still holds 381,360 shares.
Vathulya took the opposite approach. He purchased 70,000 additional shares, bringing his total holdings to 4,540,076 shares, plus 3,700,000 employee options.
Todd Thomson, who sits on the board through his firm Headwaters Capital LLC, also sold. By July 22, he had disposed of 950,000 shares and donated another 50,000 to a charitable entity.
Technical Picture Reflects Ongoing Volatility
The stock’s technical indicators underscore the turbulence. It trades about 47 percent below its 50-day moving average of 5.99 euros and roughly 20 percent below the 100-day average of 4.00 euros. The 14-day relative strength index stands at 37.7, suggesting the market has moved past the overbought conditions of the spring rally.
Annualized 30-day volatility exceeds 160 percent, highlighting how sharply sentiment continues to swing. The stock fell 13.40 percent to 3.24 euros on the day the insider transactions were confirmed, bringing the monthly decline to 60.20 percent.
Nasdaq Listing Delays Earnings Calendar
Sivers is simultaneously preparing a secondary listing on the Nasdaq. To meet the PCAOB audit requirements, the company has pushed back its financial reporting schedule. The second-quarter report, originally expected in early August, will now be released on August 27 before trading opens on Nasdaq Stockholm.
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The subsequent reports are already scheduled: third-quarter results on November 26 and fourth-quarter on February 25, 2027. Sivers cited the need to strengthen internal reporting processes for US standards as the reason for the delay.
Capital Moves and Market Value
July also brought several capital measures. Early in the month, the company raised approximately 700 million Swedish kronor through a directed share issue. On July 3, lender Bootstrap Europe exercised a conversion right from an existing convertible loan, creating additional shares.
The market capitalization now stands at roughly 889 million euros. The stock sits 68.29 percent below its 52-week high — a decline that underscores the loss of confidence over recent weeks. The 14-day RSI of 37.9 does not yet signal oversold conditions in the classic sense.
Trading Blackout Begins
A closed period under Article 19(11) of the EU Market Abuse Regulation took effect on July 28, barring executives from trading in the company’s financial instruments until the next earnings release. With the combination of easing short pressure, conflicting insider signals, and the upcoming blackout, the stock appears set to remain in a tense holding pattern until the August 27 report.
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