(DVN) - Analyzing Devon Energy's Short Interest
Portfolio Pulse from Benzinga Insights
Devon Energy's (NYSE:DVN) short percent of float has fallen 3.88% since its last report, with 13.85 million shares sold short, which is 2.48% of all regular shares available for trading. It would take traders 1.47 days to cover their short positions on average. The company has less short interest than most of its peers, with an average of 6.40% for its peer group.
August 31, 2023 | 6:30 pm
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Devon Energy's short interest has decreased, indicating a potentially more bullish market sentiment towards the company. However, this does not necessarily mean the stock price will rise in the near term.
A decrease in short interest can signal that investors have become more bullish, meaning they expect the stock price to rise. However, this is not a guarantee and other factors could influence the stock price. Devon Energy's short interest is lower than its peers, which could be seen as a positive sign by investors.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100