I agree with you re delay in data feed obscuring the real situation. I also suspect that some of these shorts are 'hedging shorts' by institutions substantially long in the company to partially lock-in some of gain after a rapid SP rise.
Interestingly, there are several other companies (some well regarded by the market) where open short positions are much higher than the current 2-3% of issued capital in OST, some as high as 10% or more. It can be quite confusing!
OST Price at posting:
$1.23 Sentiment: Buy Disclosure: Held