Peering Into Otis Worldwide's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Otis Worldwide's (NYSE:OTIS) short percent of float has risen 14.89% since its last report, with 4.46 million shares sold short, which is 1.08% of all regular shares available for trading. It would take traders 2.98 days to cover their short positions on average. An increase in short interest can signal that investors have become more bearish. However, Otis Worldwide's peer group average for short interest as a percentage of float is 4.23%, which means the company has less short interest than most of its peers.
August 04, 2023 | 11:43 am
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Otis Worldwide's short interest has increased, potentially indicating a bearish sentiment among investors. However, its short interest is less than its peer group average.
An increase in short interest can indicate a bearish sentiment among investors, which could potentially lead to a decrease in the stock's price. However, Otis Worldwide's short interest is less than its peer group average, which could mitigate some of the potential negative impact.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100