Looking Into Baker Hughes's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Baker Hughes's (NYSE:BKR) short percent of float has risen 10.73% since its last report, with 17.28 million shares sold short, which is 2.58% of all regular shares available for trading. It would take traders 2.53 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 6.02%.
August 04, 2023 | 1:46 pm
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Baker Hughes's short percent of float has risen, indicating a bearish sentiment among traders. However, it has less short interest than most of its peers.
The rise in short percent of float indicates that traders are expecting the price of Baker Hughes's stock to fall. However, the fact that it has less short interest than most of its peers could mean that the bearish sentiment is not as strong as it is for other companies in the same industry.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100