How Is The Market Feeling About PPG Indus?
Portfolio Pulse from Benzinga Insights
PPG Industries (NYSE:PPG) has seen a 16.9% increase in short interest since the last report, with 1.96 million shares sold short, representing 0.83% of available shares. The short interest ratio is 1.63 days to cover. While an increase in short interest can indicate bearish sentiment, PPG's short interest is below its peer group average of 4.22%. This information suggests investors are more bearish on PPG, but the company is less shorted compared to its peers.
December 21, 2023 | 7:15 pm
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NEGATIVE IMPACT
PPG Industries has experienced an increase in short interest, which may suggest bearish market sentiment. However, its short interest is still lower than the peer group average, indicating less negative sentiment relative to its peers.
The rise in short interest for PPG Industries indicates that investors may be expecting the stock price to decline, which could lead to short-term negative pressure on the stock. However, the fact that PPG's short interest is below the peer average suggests that the bearish sentiment is not as strong as it could be, which may limit the downside. The score reflects the negative sentiment from increased short interest, but the relevance, importance, and confidence are moderated by the comparison to peers.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 80