Looking Into Hess's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Hess's (NYSE:HES) short percent of float has fallen 19.79% since its last report, with 3.10 million shares sold short, which is 1.54% of all regular shares available for trading. It would take traders 2.41 days to cover their short positions on average. Hess's peer group average for short interest as a percentage of float is 6.46%, which means the company has less short interest than most of its peers.
September 13, 2023 | 7:00 pm
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Hess's short percent of float has decreased, indicating a potentially more bullish sentiment towards the stock. 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 can influence the stock price. Hess's short interest is also lower than its peers, which could be seen as a positive sign. However, it's important to note that short interest is just one factor to consider when analyzing a stock's potential performance.
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