Looking Into Nucor's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Nucor's (NYSE:NUE) short percent of float has risen 5.73% since its last report, with 5.51 million shares sold short, which is 2.95% of all regular shares available for trading. It would take traders 4.15 days to cover their short positions on average. An increase in short interest can signal that investors have become more bearish. Nucor's peer group average for short interest as a percentage of float is 3.75%, which means the company has less short interest than most of its peers.
September 11, 2023 | 5:00 pm
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Nucor's short percent of float has increased, indicating a potentially bearish sentiment among investors. However, compared to its peers, Nucor has less short interest.
The increase in Nucor's short percent of float indicates that more investors are betting on the stock's price to fall, which could put downward pressure on the stock in the short term. However, the fact that Nucor has less short interest than its peers could mitigate this effect to some extent.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100