(EIX) - Analyzing Edison Intl's Short Interest
Portfolio Pulse from Benzinga Insights
Edison Intl's (NYSE:EIX) short percent of float has risen 4.12% since its last report, with 7.37 million shares sold short, which is 2.78% of all regular shares available for trading. It would take traders 5.52 days to cover their short positions on average. The company has more short interest than most of its peers, with the peer group average for short interest as a percentage of float being 2.06%.
September 20, 2023 | 1:30 pm
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Edison Intl's short interest has increased, indicating a bearish sentiment among traders. However, high short interest can sometimes be bullish.
The increase in short interest indicates that more traders are betting that Edison Intl's stock price will fall. This is generally a bearish signal. However, if the stock price does not fall as expected, these traders will need to buy back the shares they sold short, which could drive up the stock price.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100