Peering Into Energy Transfer's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Energy Transfer's (NYSE:ET) short percent of float has risen 6.63% since its last report, with 49.80 million shares sold short, which is 1.77% of all regular shares available for trading. This increase in short interest can act as an indicator of market sentiment towards a stock. However, compared to its peers, Energy Transfer has less short interest as a percentage of float, which is 3.90% on average.
October 17, 2023 | 1:30 pm
News sentiment analysis
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NEGATIVE IMPACT
Increased short interest in Energy Transfer indicates bearish market sentiment, which could put downward pressure on the stock. However, its short interest is less than its peers, which could be a positive sign.
The rise in short interest indicates that more investors are betting that the price of Energy Transfer's stock will fall. This could put downward pressure on the stock. However, the fact that Energy Transfer's short interest is less than its peers could indicate that it is viewed more favorably than similar companies, which could mitigate some of this downward pressure.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100