Peering Into Public Service Enterprise's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Public Service Enterprise (NYSE:PEG) has seen a 3.81% increase in short interest since its last report, with 9.62 million shares sold short, representing 2.18% of its float. It would take about 3.84 days to cover all short positions. While an increase in short interest can indicate bearish sentiment, PEG has less short interest compared to its peer group average of 2.79%. The rise in short interest doesn't necessarily predict a near-term price drop.
November 10, 2023 | 4:00 pm
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NEUTRAL IMPACT
Public Service Enterprise's short interest has increased, which may suggest bearish sentiment among traders. However, its short interest is below the peer group average, indicating less bearish sentiment relative to its peers.
The increase in short interest for PEG suggests that some investors are expecting the stock price to decline. However, since the short interest is below the peer average, it does not strongly indicate a widespread bearish sentiment. The impact on the stock price is uncertain, hence a neutral score is given.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 100