Peering Into Baker Hughes's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Baker Hughes's (NYSE:BKR) short percent of float has risen 8.55% since its last report, with 16.99 million shares sold short, which is 2.54% of all regular shares available for trading. This does not necessarily mean the stock will fall in the near-term, but indicates more shares are being shorted. Compared to its peers, Baker Hughes has less short interest, with an average of 5.57% for its peer group.
October 12, 2023 | 5:00 pm
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Baker Hughes's short percent of float has increased, indicating more shares are being shorted. However, compared to its peers, Baker Hughes has less short interest.
The increase in short percent of float indicates that more traders are betting against Baker Hughes, which could put downward pressure on the stock. However, the fact that Baker Hughes has less short interest compared to its peers suggests that the market sentiment towards the company is not as bearish as it is towards its peers. This could limit the potential downside for the stock in the short term.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100