How Is The Market Feeling About ONEOK?
Portfolio Pulse from Benzinga Insights
ONEOK (NYSE:OKE) has seen a decrease in short interest, with the short percent of float dropping 6.67% since the last report. The company has 10.03 million shares sold short, representing 2.1% of available shares for trading. The current short interest suggests it would take about 3.36 days for traders to cover their positions. A decrease in short interest can indicate a more bullish sentiment towards the stock. ONEOK's short interest is below its peer group average of 3.50%.
December 18, 2023 | 2:15 pm
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ONEOK'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.
The decrease in short interest for ONEOK suggests that investors may be less bearish on the stock, which could lead to a short-term increase in its price. Since the short interest is also lower than the peer average, it indicates that the market may have more confidence in ONEOK compared to its competitors. 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