(HON) - Analyzing Honeywell Intl's Short Interest
Portfolio Pulse from Benzinga Insights
Honeywell Intl (NYSE:HON) has seen an 18.75% increase in short interest since its last report, with 6.28 million shares sold short, representing 0.95% of its float. It would take 2.27 days to cover these short positions based on average trading volume. While an increase in short interest can indicate bearish sentiment, it does not necessarily predict a near-term price drop. Honeywell has less short interest compared to its peer group average of 1.43%.
November 28, 2023 | 7:00 pm
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NEUTRAL IMPACT
Honeywell Intl's short interest has increased, which may suggest bearish market sentiment but does not necessarily predict a price decline. The company's short interest is below its peer group average.
The rise in short interest indicates a bearish sentiment, but since the short interest is below the peer average and the article suggests it doesn't predict immediate price movement, the short-term impact is likely neutral. The importance is moderate as short interest is a notable factor for investors, but not the sole determinant of stock performance. Confidence is at 70 due to the uncertainty of short-term price movements based on short interest alone.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 100