How Is The Market Feeling About PACCAR?
Portfolio Pulse from Benzinga Insights
PACCAR Inc. (NYSE:PCAR) has seen a 21.99% decrease in short interest since its last report, with 5.03 million shares sold short, representing 1.1% 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. PACCAR's short interest is below its peer group average of 4.32%. While a decline in short interest does not guarantee a stock price increase, it suggests fewer traders are betting against the stock.
November 20, 2023 | 7:45 pm
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PACCAR Inc. has experienced a significant decrease in short interest, which may suggest a more bullish sentiment among investors and could potentially lead to a short-term increase in stock price.
The reduction in short interest for PACCAR indicates that fewer traders are betting on the stock's decline, which could lead to less selling pressure and a potential increase in the stock price in the short term. However, the impact on the stock price is not guaranteed and will depend on broader market conditions and company performance.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100