How Is The Market Feeling About Eaton Corp?
Portfolio Pulse from Benzinga Insights
Eaton Corp's (NYSE:ETN) short percent of float has fallen 14.29% since its last report, with 4.07 million shares sold short, which is 1.02% of all regular shares available for trading. This decrease in short interest could indicate a more bullish market sentiment towards Eaton Corp. Compared to its peers, Eaton Corp has less short interest as a percentage of float, with an average of 11.10% for its peer group.
August 11, 2023 | 5:15 pm
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Eaton Corp's short percent of float has decreased, indicating a more bullish sentiment. This could potentially lead to an increase in the stock's price in the short term.
A decrease in short interest often indicates a more bullish sentiment towards a stock. This is because short selling is a strategy used when traders expect a stock's price to fall. Therefore, a decrease in short interest could suggest that fewer traders are expecting Eaton Corp's stock price to fall, which could potentially lead to an increase in the stock's price.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100