Peering Into O'Reilly Automotive's Recent Short Interest
Portfolio Pulse from Benzinga Insights
O'Reilly Automotive (NYSE:ORLY) has seen a 9.21% increase in short interest since its last report, with 1.46 million shares sold short, representing 2.49% of its float. It would take about 3.67 days to cover all short positions. While an increase in short interest can indicate bearish sentiment, it's not a definitive predictor of a stock's direction. Compared to its peers, ORLY has less short interest, with the peer group average at 12.97% of float.
November 28, 2023 | 5:00 pm
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O'Reilly Automotive's short interest has increased, which may indicate bearish sentiment, but the company has less short interest compared to its peers.
The increase in short interest suggests that some investors are bearish on ORLY. However, the fact that ORLY's short interest is below the peer average and that an increase in short interest can sometimes be bullish tempers the potential negative impact. The short-term price direction is uncertain, hence a neutral score.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 80