Peering Into Caterpillar's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Caterpillar Inc. (NYSE:CAT) has experienced a 7.44% increase in short interest since its last report, with 6.61 million shares sold short, representing 1.3% of its float. It would take about 1.7 days to cover all short positions. While an increase in short interest can indicate bearish sentiment, it does not necessarily predict a near-term price drop. Caterpillar's short interest is below its peer group average of 4.31%.
November 13, 2023 | 6:15 pm
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NEUTRAL IMPACT
Caterpillar's short interest has increased, which may indicate bearish market sentiment but is still below the peer average. This could lead to increased volatility in the short term.
While the increase in short interest suggests that some investors are expecting the price of Caterpillar's stock to fall, the fact that it is below the peer average could mitigate the impact. Additionally, the article suggests that an increase in short interest does not necessarily predict a near-term price drop, which makes the short-term impact neutral.
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IMPORTANCE 60
RELEVANCE 100