Looking Into Cummins's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Cummins's (NYSE:CMI) short percent of float has fallen 10.27% since its last report, with 1.85 million shares sold short, which is 1.31% of all regular shares available for trading. It would take traders 3.03 days to cover their short positions on average. The company has less short interest than most of its peers, with the peer group average for short interest as a percentage of float being 4.81%.
November 06, 2023 | 8:30 pm
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Cummins's short interest has decreased, indicating a potentially more bullish sentiment towards the stock.
A decrease in short interest often indicates a more bullish sentiment towards a stock, as it means fewer traders are betting on the stock's price to fall. This could potentially lead to an increase in the stock's price in the short term.
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