Looking Into Rockwell Automation's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Rockwell Automation (NYSE:ROK) has seen a 19.38% decrease in short interest since its last report, with 2.36 million shares sold short, representing 2.33% of its float. The average time to cover these short positions is 1.87 days. A decrease in short interest can indicate a more bullish sentiment towards the stock. Compared to its peers, ROK has a lower short interest as a percentage of float, with the peer group average at 11.24%.
November 28, 2023 | 6:45 pm
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Rockwell Automation's short interest has decreased, which may suggest a more bullish sentiment among investors. The company's short interest is below the peer group average, potentially indicating a positive outlook.
The decrease in short interest for Rockwell Automation suggests that investors may be less bearish on the stock, which could lead to a short-term increase in its price. The fact that ROK's short interest is significantly lower than its peer group average further supports the potential for a positive price movement. However, the article also cautions that a decrease in short interest does not necessarily mean the stock price will rise, so while the sentiment is more bullish, the impact is not guaranteed.
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