Sivers Semiconductors: Short Sellers Retreat as Insider Trading Sends Mixed Signals
Published on 07/23/2026 at 14:51 | Redaktion boerse-global.de
The tug-of-war over Sivers Semiconductors is playing out on two fronts. While short sellers are quietly closing their bearish bets, company insiders are heading in opposite directions — and the stock is struggling to find its footing.
The Swedish photonics and wireless technology firm saw its short interest shrink to 2.76 percent of share capital, down sharply from 6.69 percent in early May. The decline accelerated after Two Sigma Investments reduced its position below Sweden’s 0.5 percent disclosure threshold, dropping off the public short-seller list entirely. That leaves just one investor holding a reported short position against the company.
The retreat of the bears comes after a brutal stretch for the stock. Shares closed at 3.29 euros on Thursday, up 1.42 percent from the prior session, but that modest gain does little to mask the damage. The stock has tumbled roughly 68 percent from its 52-week high of 10.23 euros reached on June 3, with losses of nearly 60 percent over the past 30 days alone. The 50-day moving average of 5.99 euros and the 100-day average of 4.00 euros both sit well above the current price, while the relative strength index of 38.4 suggests the selling pressure may be easing — though the annualized 30-day volatility of over 160 percent underscores the risks that remain.
Insider Moves Tell Two Stories
The lock-up period tied to a directed share issuance on April 16 expired on July 16, unleashing a wave of insider transactions that reveal a divided boardroom.
Should investors sell immediately? Or is it worth buying Sivers Semiconductors?
Chairman Bami Bastani moved quickly to reduce his exposure, selling 275,000 shares on the day the lock-up ended. He also donated 60,000 shares to charitable organizations and transferred 70,000 shares to family members. Headwaters Capital LLC, another major holder, sold 950,000 shares by July 22 and donated an additional 50,000 shares to a non-profit.
CEO Vickram Vathulya took the opposite approach, purchasing 70,000 additional shares. His total holdings now stand at 4,540,076 shares, supplemented by 3.7 million employee options. Todd Thomson remains the largest individual board shareholder with 477,027 shares.
The conflicting signals come at a delicate moment. The stock dropped 13.40 percent to 3.24 euros on the day the insider trades were disclosed, reflecting market unease about the boardroom divide.
Nasdaq Listing Reshapes the Calendar
Behind the insider activity lies a strategic shift: Sivers is preparing a secondary listing on the Nasdaq, a move that requires compliance with strict PCAOB audit standards. To strengthen its internal reporting processes for U.S. requirements, the company has pushed back its second-quarter results from early August to August 27, 2026 — to be released before trading opens on the Nasdaq Stockholm.
The revised schedule extends through the remainder of the year, with third-quarter results due November 26 and fourth-quarter numbers on February 25, 2027. The company also raised approximately 700 million Swedish kronor through a directed share issuance earlier in July, while lender Bootstrap Europe exercised a conversion right on an existing convertible loan on July 3, adding further shares to the float.
Sivers Semiconductors at a turning point? This analysis reveals what investors need to know now.
Quiet Period Ahead
Under Article 19, paragraph 11 of the EU Market Abuse Regulation, a closed period begins July 28, barring executives from reporting further securities transactions until the quarterly report is published. That means the next visible signals for investors will be the earnings release itself — and whatever narrative emerges from the numbers.
For now, the market is left weighing two competing data points: the steady retreat of short sellers, and the starkly different choices of the company’s own leadership.
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