Peering Into HP's Recent Short Interest
Portfolio Pulse from Benzinga Insights
HP Inc. (NYSE:HPQ) has seen a decrease in short interest, with the current level at 11.93 million shares or 1.38% of float, down 6.12% since the last report. The average time to cover these short positions is 1.75 days. While a decline in short interest can indicate a more bullish sentiment, it does not necessarily predict a near-term rise in stock price. HP's short interest is below its peer group average of 6.96%.
December 05, 2023 | 8:30 pm
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NEUTRAL IMPACT
HP Inc.'s short interest has decreased, suggesting a potential shift in market sentiment to more bullish. However, this does not guarantee an immediate increase in stock price.
The decrease in short interest for HP Inc. indicates that there may be a more bullish sentiment among investors, which could be positive for the stock price. However, the article also cautions that this does not necessarily mean the stock will rise in the near term. The relevance is high as the article is directly about HP Inc.'s short interest, but the importance is moderate because short interest is just one of many factors that can affect stock price. The confidence level is not at the maximum because the stock market is unpredictable and influenced by numerous variables.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 100