Looking Into Diamondback Energy's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Diamondback Energy's (NYSE:FANG) short percent of float has risen 35.37% since its last report, with 8.33 million shares sold short, which is 5.32% of all regular shares available for trading. It would take traders 4.09 days to cover their short positions on average. The company's short interest is less than its peer group average of 6.28%.
August 31, 2023 | 6:15 pm
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Diamondback Energy's short interest has increased significantly, indicating a bearish sentiment among traders. However, its short interest is still less than its peer group average.
The increase in short interest indicates that more traders are betting on the stock's price to fall, which could put downward pressure on the stock price in the short term. However, the fact that Diamondback's short interest is less than its peer group average suggests that it may be less vulnerable to a short squeeze.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100