Peering Into Otis Worldwide's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Otis Worldwide's (NYSE:OTIS) short percent of float has risen 9.78% since its last report, with 4.14 million shares sold short, which is 1.01% of all regular shares available for trading. It would take traders 2.25 days to cover their short positions on average. The company's short interest is less than its peer group average of 3.01%.
September 21, 2023 | 2:45 pm
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NEGATIVE IMPACT
Otis Worldwide's short interest has increased, indicating a bearish sentiment among traders. However, its short interest is less than its peer group average.
An increase in short interest indicates that more traders are betting that the stock's price will fall. However, Otis Worldwide's short interest is less than its peer group average, which could mean that it is less likely to experience a significant price drop compared to its peers.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100