Short sellers keep pressing Fingerprint Cards

Demand to borrow Fingerprint shares has risen by 59% over the last month

Short interest in Swedish tech firm Fingerprint Cards has reached another new all-time high.

Statistics from FIS Sungard show as short interest volumes climbed by another 10% last week to a new record.

IHS Markit, another securities finance data provider, recently highlighted that demand to borrow Fingerprint shares has risen by 59% over the last month.

The firm develops future fingerprint systems for smartphones and other mobile devices.

Shares fell a further SEK2 to close last week down by just over 2% at SEK87.70.

With third quarter earnings due on October 27, there appears to be a strong expectation of further falls for Fingerprint.

The advance of Goodix, a Chinese mainland competitor in the biometric technology space, is being related to the pressure being exerted on the company.

Goodix shares have risen more than 60% over the last 12 months as it builds market penetration.

"The onus is on Fingerprint to press hard and keep its first mover advantage," FIS Sungard experts wrote in a note to clients.

"Short sellers, who are now utilizing over 80% of the available supply of shares, and the share price movement itself suggest that may be a struggle."