Looking Into Baker Hughes's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Baker Hughes's (NYSE:BKR) short percent of float has risen 4.93% since its last report, with 15.66 million shares sold short, which is 2.34% of all regular shares available for trading. It would take traders 3.04 days to cover their short positions on average. Compared to its peers, Baker Hughes has less short interest as a percentage of float, with the average being 5.35%.
September 26, 2023 | 6:15 pm
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Baker Hughes's short percent of float has risen, indicating a bearish sentiment among traders. However, compared to its peers, the company has less short interest.
An increase in short interest indicates that more traders are betting that the stock price will fall. This could put downward pressure on the stock price in the short term. However, the fact that Baker Hughes has less short interest compared to its peers could mean that it is less likely to experience a significant drop in price compared to other companies in the same industry.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100