Looking Into CVS Health's Recent Short Interest
Portfolio Pulse from Benzinga Insights
CVS Health (NYSE:CVS) has seen a 13.89% increase in short interest since its last report, with 15.87 million shares sold short, representing 1.23% of its float. The average time to cover these short positions is 2.21 days. While an increase in short interest can indicate bearish sentiment, CVS Health's short interest is below its peer group average of 8.38%. This suggests less bearish sentiment compared to its peers.
November 14, 2023 | 6:00 pm
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NEUTRAL IMPACT
CVS Health's short interest has increased, which could indicate bearish sentiment among traders. However, its short interest is still lower than the peer group average, which may mitigate negative perceptions.
The increase in short interest for CVS Health suggests that some traders expect the stock price to decline. However, since the short interest is below the peer group average, it does not necessarily indicate a strong bearish trend. The impact on the stock price is uncertain, hence a neutral score is given.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 80