Peering Into Eversource Energy's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Eversource Energy's (NYSE:ES) short percent of float has risen 22.31% since its last report, with 5.55 million shares sold short, which is 1.59% of all regular shares available for trading. This increase in short interest can act as an indicator of market sentiment towards a particular stock. However, compared to its peers, Eversource Energy has less short interest as a percentage of float, which is 2.23% on average.
July 17, 2023 | 4:45 pm
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NEUTRAL IMPACT
Eversource Energy's short interest has increased, indicating a bearish market sentiment. However, it has less short interest compared to its peers, which could be a positive sign.
An increase in short interest usually indicates a bearish market sentiment, as traders are expecting the stock price to fall. However, Eversource Energy has less short interest compared to its peers, which could mean that the market sentiment towards Eversource Energy is less bearish compared to other similar companies. This could potentially limit the downside risk for the stock in the short term.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100