How Is The Market Feeling About Cummins?
Portfolio Pulse from Benzinga Insights
Cummins Inc. (NYSE:CMI) has experienced a 15.46% increase in short interest since its last report, with 1.58 million shares sold short, representing 1.12% of its float. The short interest is below the peer group average of 4.47%. While an increase in short interest can indicate bearish sentiment, it does not necessarily predict a near-term price decline.
December 13, 2023 | 1:15 pm
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Cummins has a lower short interest compared to its peers, which could be perceived as a positive sign by investors. However, the increase in short interest might lead to some investors being cautious in the short term.
The rise in short interest for Cummins suggests that some investors are bearish on the stock. However, since the overall short interest is still lower than the peer average, this may not have a significant negative impact on the stock price in the short term. The mixed sentiment could result in a neutral short-term price movement as the market digests this information.
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