How Is The Market Feeling About Quanta Services?
Portfolio Pulse from Benzinga Insights
Quanta Services (NYSE:PWR) has seen a 14.29% increase in short interest since its last report, with 4.40 million shares sold short, representing 3.44% of its float. The short interest now takes 2.36 days to cover 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. Quanta Services has less short interest compared to its peer group average of 4.14%.
November 29, 2023 | 5:45 pm
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NEUTRAL IMPACT
Quanta Services has experienced an increase in short interest, which may suggest bearish sentiment among investors but does not necessarily predict immediate stock price movement.
The rise in short interest for Quanta Services indicates that investors may be expecting the stock price to fall. However, since the company has less short interest than its peers and the article suggests that increasing short interest can sometimes be bullish, the short-term impact on the stock price is uncertain. Therefore, the score is neutral.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 100