How Is The Market Feeling About Estee Lauder Cos?
Portfolio Pulse from Benzinga Insights
Estee Lauder Cos (NYSE:EL) has seen a 19.37% decrease in short interest since its last report, with 4.15 million shares sold short, representing 1.79% of its float. The average time to cover these short positions is 1.78 days. A decrease in short interest can indicate a more bullish sentiment towards the stock. Compared to its peers, Estee Lauder has a lower short interest as a percentage of float, with the peer group average at 6.87%.
December 14, 2023 | 2:45 pm
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Estee Lauder's short interest has decreased, which may suggest a more bullish sentiment among investors. The stock has less short interest compared to its peers, potentially indicating stronger relative confidence in the company's performance.
A decrease in short interest typically indicates that investors are less bearish on a stock, which could lead to an increase in its price in the short term. Since Estee Lauder's short interest is lower than its peers, this might be perceived positively by the market. However, the article also cautions that this does not necessarily mean the stock will rise in the near term, hence the importance is not at the maximum level.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100