Looking At Petrobras Brasileiro's Recent Unusual Options Activity
Portfolio Pulse from Benzinga Insights
A whale has taken a bearish stance on Petrobras Brasileiro (NYSE:PBR), with 60% of recent unusual options activity being bearish. Whales have been targeting a price range of $8.0 to $15.0 for the company over the last 3 months. Goldman Sachs maintains a Neutral rating with a price target of $12.
June 05, 2023 | 6:02 pm
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NEGATIVE IMPACT
Petrobras Brasileiro sees 60% bearish unusual options activity, with whales targeting a price range of $8.0 to $15.0. Goldman Sachs maintains a Neutral rating with a price target of $12.
The bearish stance taken by a whale with a large amount of money to spend indicates a potential negative impact on Petrobras Brasileiro's stock price in the short term. The fact that 60% of the unusual options activity is bearish suggests that there is a higher probability of the stock price going down. Additionally, Goldman Sachs maintaining a Neutral rating with a price target of $12 further supports the bearish outlook.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100