How Is The Market Feeling About SLB?
Portfolio Pulse from Benzinga Insights
The short percent of float for Schlumberger Limited (NYSE:SLB) has risen by 3.5% since its last report, with 21.06 million shares sold short. This represents 1.48% of all regular shares available for trading. The average time to cover these short positions is 2.94 days. Despite the increase in short interest, SLB's short interest as a percentage of float is lower than its peer group average of 5.38%.
September 13, 2023 | 7:15 pm
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NEGATIVE IMPACT
Schlumberger Limited's short interest has increased, indicating a bearish sentiment among traders. However, its short interest is still lower than its peers, suggesting it may be less vulnerable to a short squeeze.
An increase in short interest indicates that more traders are betting on the stock's price to fall, which can put downward pressure on the stock price in the short term. However, SLB's short interest as a percentage of float is lower than its peers, which means it is less likely to experience a short squeeze, a situation where a stock's price rises sharply due to high demand from short sellers needing to cover their positions.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 100