(GWW) - Analyzing W.W. Grainger's Short Interest
Portfolio Pulse from Benzinga Insights
W.W. Grainger's (NYSE:GWW) short interest has increased by 12.55% since the last report, with 1.20 million shares sold short, representing 3.05% of available shares. It would take about 4.88 days to cover all short positions. While an increase in short interest can indicate bearish sentiment, it does not necessarily predict a price drop. Compared to its peers, GWW has a lower short interest percentage of float (3.05% vs. peer average of 5.06%).
December 21, 2023 | 1:30 pm
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NEUTRAL IMPACT
W.W. Grainger's short interest has risen, indicating potential bearish sentiment among investors. However, its short interest is still below the peer group average.
The rise in short interest suggests that some investors are expecting the price of GWW to fall, which could lead to negative pressure on the stock price in the short term. However, since the short interest is below the peer average, it may not be a strong bearish signal. The impact is considered neutral due to the uncertainty of whether the increased short interest will translate into a price decline.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 80