How Is The Market Feeling About PACCAR?
Portfolio Pulse from Benzinga Insights
PACCAR's (NASDAQ:PCAR) short percent of float has risen 9.73% since its last report, with 9.26 million shares sold short, which is 2.03% of all regular shares available for trading. It would take traders 3.5 days to cover their short positions on average. An increase in short interest can signal that investors have become more bearish. However, PACCAR's peer group average for short interest as a percentage of float is 5.05%, which means the company has less short interest than most of its peers.
June 30, 2023 | 6:45 pm
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PACCAR's short percent of float has increased, indicating a potential bearish sentiment among investors. However, compared to its peers, PACCAR has less short interest.
The increase in PACCAR's short percent of float could indicate a bearish sentiment among investors, which could potentially lead to a decrease in the stock's price in the short term. However, the fact that PACCAR has less short interest than most of its peers could mitigate this effect.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100