How Is The Market Feeling About Energy Transfer?
Portfolio Pulse from Benzinga Insights
Energy Transfer's (NYSE:ET) short percent of float has risen 8.6% since its last report, with 56.83 million shares sold short, which is 2.02% of all regular shares available for trading. It would take traders 6.39 days to cover their short positions on average. An increase in short interest can signal that investors have become more bearish. However, Energy Transfer's peer group average for short interest as a percentage of float is 3.28%, which means the company has less short interest than most of its peers.
August 22, 2023 | 4:45 pm
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Energy Transfer's short percent of float has increased, indicating a bearish sentiment among investors. However, compared to its peers, the company has less short interest.
The increase in short interest indicates that more investors are betting that Energy Transfer's stock price will fall. This could put downward pressure on the stock price in the short term. However, the fact that Energy Transfer has less short interest than its peers could indicate that it is less likely to experience a significant price drop compared to other companies in its industry.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100