Peering Into Hess's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Hess's (NYSE:HES) short percent of float has risen 11.24% since its last report, with 3.78 million shares sold short, which is 1.88% of all regular shares available for trading. It would take traders 1.84 days to cover their short positions on average. An increase in short interest can signal that investors have become more bearish. Hess's peer group average for short interest as a percentage of float is 6.12%, which means the company has less short interest than most of its peers.
August 15, 2023 | 6:00 pm
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Hess's short percent of float has risen 11.24%, indicating a bearish sentiment among investors. However, compared to its peers, Hess has less short interest.
The increase in short percent of float indicates that more investors are betting against Hess, which could put downward pressure on the stock price in the short term. However, the fact that Hess has less short interest than its peers could mean that it is less likely to experience a significant drop in price compared to other companies in its industry.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100