Looking Into Caterpillar's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Caterpillar Inc. (NYSE:CAT) has experienced a 48.46% increase in short interest since its last report, with 9.80 million shares sold short, representing 1.93% of its float. The average time to cover these short positions is 2.59 days. While an increase in short interest can indicate bearish sentiment, it does not necessarily predict a near-term price drop. Caterpillar's short interest is below its peer group average of 4.50%.
November 30, 2023 | 3:30 pm
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Caterpillar's short interest has surged, but remains below the peer average. This could indicate bearish sentiment but isn't a definitive predictor of stock performance.
While the increase in short interest for Caterpillar suggests that some investors are expecting the stock price to decline, the fact that it is still below the peer average means the sentiment is not overwhelmingly negative. The short-term impact on the stock price is uncertain, as short interest is just one of many factors that can affect stock prices.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 100