(IR) - Analyzing Ingersoll Rand's Short Interest
Portfolio Pulse from Benzinga Insights
Ingersoll Rand (NYSE:IR) has seen a 9.02% decrease in short interest since its last report, with 3.73 million shares sold short, representing 1.21% of its float. The average time to cover these short positions is 1.17 days. A decrease in short interest can indicate a more bullish sentiment towards the stock. In comparison to its peers, Ingersoll Rand has a lower short interest as a percentage of float, with the peer group average at 3.55%.
November 14, 2023 | 8:45 pm
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Ingersoll Rand's short interest has decreased, which may suggest a more bullish sentiment among investors and could lead to a potential short-term increase in stock price.
A decrease in short interest typically indicates that investors are less bearish on a stock, which can lead to a short-term increase in its price as short sellers cover their positions. However, the article also cautions that this does not necessarily mean the stock will rise in the near term, hence the importance is not at the maximum level.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100