Looking Into Cummins's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Cummins Inc. (NYSE:CMI) has experienced a 21.37% decrease in short interest since its last report, with 1.46 million shares sold short, representing 1.03% of its float. The average time to cover these short positions is 2.05 days. A decrease in short interest can indicate a more bullish sentiment towards the stock. Cummins has a lower short interest compared to its peer group average of 4.32%.
November 27, 2023 | 6:15 pm
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Cummins'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 an increase in its price. However, short interest is just one of many factors that can affect stock prices, and the article does not guarantee a rise in Cummins's stock price. The confidence level is not at 100 because the market can be influenced by numerous unpredictable factors.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100