(HPQ) - Analyzing HP's Short Interest
Portfolio Pulse from Benzinga Insights
HP Inc.'s (NYSE:HPQ) short interest has decreased by 30.66% since the last report, with 12.76 million shares sold short, representing 1.47% of available shares. The average time to cover these short positions is 1.92 days. A decrease in short interest can indicate a more bullish sentiment towards the stock. HP's short interest is below its peer group average of 6.69%.
November 15, 2023 | 8:00 pm
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HP Inc.'s short interest has significantly decreased, which may indicate a more bullish sentiment towards the stock in the short term. The company's short interest is also lower than the peer group average.
The decrease in short interest for HP Inc. suggests that bearish sentiment is waning, which could lead to less downward pressure on the stock price in the short term. As short interest is a contrarian indicator, this reduction could be perceived positively by the market, potentially leading to a short-term increase in the stock price. The comparison with peers also supports a relatively stronger position for HP Inc., as its short interest is significantly lower than the average for its peer group.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100