6 High-Growth Stocks Under $5 With Bullish Short Trends

Looking to add some growth to your portfolio? Here are some ideas to start your stock search.

We ran a screen on stocks trading under $5 a share for those with high growth, measured by 5-year projected EPS growth rates above 20%. We then screened these stocks for bullish short covering, seeing significant decreases in shares shorted month-over-month.

?Interactive Chart: Press Play to compare changes in analyst ratings over the last two years for the stocks mentioned below. Analyst ratings sourced from Zacks Investment Research.?

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We also created a price-weighted index of the stocks mentioned below, and monitored the performance of the list relative to the S&P 500 index over the last month. To access a complete analysis of this list's recent performance, click here.

Do you think these short sellers are calling it right? Use this list as a starting point for your own analysis.

List sorted by 5-year projected EPS growth.

1. MELA Sciences, Inc. (MELA): Price at $4.57. 5-year projected EPS growth at 40.00%. Shares shorted have decreased from 5.55M to 5.24M over the last month, a decrease which represents about 1.25% of the company's float of 24.89M shares.

2. BioMimetic Therapeutics Inc. (BMTI): Engages in the development and commercialization of regenerative protein therapeutic products primarily used for bone and tissue regeneration, repair and healing of musculoskeletal injuries, and conditions affecting bones, tendons, ligaments, and cartilage. Price at $2.06. 5-year projected EPS growth at 35.00%. Shares shorted have decreased from 1.71M to 1.02M over the last month, a decrease which represents about 3.28% of the company's float of 21.04M shares.

3. MoSys, Inc. (MOSY): Designs, develops, markets, and licenses embedded memory intellectual property used by the semiconductor industry and communications, networking, and storage equipment manufacturers. Price at $4.33. 5-year projected EPS growth at 35.00%. Shares shorted have decreased from 2.59M to 2.14M over the last month, a decrease which represents about 1.67% of the company's float of 26.90M shares.

4. Glu Mobile, Inc. (GLUU): Engages in the design, marketing, and sale of casual and traditional mobile games worldwide. Price at $3.92. 5-year projected EPS growth at 33.75%. Shares shorted have decreased from 8.31M to 7.60M over the last month, a decrease which represents about 1.56% of the company's float of 45.39M shares.

5. Sky-mobi Limited (MOBI): Engages in the operation of a mobile application store in the People's Republic of China. Price at $3.88. 5-year projected EPS growth at 25.00%. Shares shorted have decreased from 659.93K to 578.92K over the last month, a decrease which represents about 1.12% of the company's float of 7.25M shares.

6. Motricity, Inc. (MOTR): Enables mobile operators, brands, and advertising agencies to maximize the reach and economic potential of the mobile ecosystem through the delivery of relevance-driven merchandising, marketing, and advertising solutions. Price at $1.59. 5-year projected EPS growth at 25.00%. Shares shorted have decreased from 8.90M to 8.41M over the last month, a decrease which represents about 1.27% of the company's float of 38.51M shares.

*Short data sourced from Yahoo! Finance, all other data sourced from Finviz.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.