Peering Into Hess's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Hess Corporation (NYSE: HES) has experienced a 12.5% increase in short interest since its last report, with 4.35 million shares sold short, representing 2.16% of its float. The average time to cover these short positions is 1.12 days. While an increase in short interest can indicate bearish sentiment, it does not necessarily predict a near-term price decline. Hess's short interest is below its peer group average of 6.05%.

December 26, 2023 | 1:15 pm
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Hess Corporation's short interest has increased, which may suggest bearish market sentiment but is still below the peer average. This could lead to increased volatility in the short term.
While the increase in short interest for Hess indicates that some investors are expecting the price to fall, the fact that it is below the peer average suggests that the sentiment is not overwhelmingly negative. The short-term impact on the stock price is uncertain, as short interest is just one of many factors that can affect stock prices. Additionally, the article suggests that an increase in short interest does not necessarily predict a near-term price decline.
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