(ET) - Analyzing Energy Transfer's Short Interest
Portfolio Pulse from Benzinga Insights
Energy Transfer's (NYSE:ET) short percent of float has fallen 6.44% since its last report, with 53.18 million shares sold short, which is 1.89% of all regular shares available for trading. It would take traders 5.97 days to cover their short positions on average. The company has less short interest than most of its peers, with the peer group average for short interest as a percentage of float being 3.54%.
July 07, 2023 | 5:31 pm
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NEUTRAL IMPACT
Energy Transfer's short percent of float has decreased, indicating a potentially more bullish market sentiment towards the stock. However, this does not necessarily mean the stock price will rise in the near term.
A decrease in short interest can signal that investors have become more bullish, meaning they expect the stock price to rise. However, this is not a guarantee and other factors could influence the stock price. Energy Transfer's short interest is also lower than its peers, which could be seen as a positive sign by investors.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100