Looking Into SLB's Recent Short Interest
Portfolio Pulse from Benzinga Insights
SLB's (NYSE:SLB) short percent of float has risen 27.64% since its last report, with 22.29 million shares sold short, which is 1.57% of all regular shares available for trading. It would take traders 1.64 days to cover their short positions on average. An increase in short interest can signal that investors have become more bearish. SLB's peer group average for short interest as a percentage of float is 6.06%, which means the company has less short interest than most of its peers.
July 31, 2023 | 9:09 pm
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SLB's short percent of float has risen 27.64% since its last report, indicating a bearish sentiment among investors. However, compared to its peers, SLB has less short interest.
The increase in short percent of float indicates that more investors are betting against SLB, which could put downward pressure on the stock price in the short term. However, the fact that SLB has less short interest than most of its peers could mitigate this effect to some extent.
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