Peering Into Schlumberger's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Schlumberger's (NYSE:SLB) short interest has decreased by 4.84% since the last report, with 16.77 million shares sold short, representing 1.18% of available shares. The average time to cover these short positions is 2.03 days. A decrease in short interest can indicate a more bullish sentiment towards the stock. Compared to its peers, Schlumberger has a lower short interest as a percentage of float, with the peer group average at 6.34%.
December 28, 2023 | 4:45 pm
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Schlumberger's short interest has decreased, which may suggest a more bullish sentiment among investors and could lead to a potential short-term increase in the stock price.
A decrease in short interest typically indicates that investors are less bearish on the stock, which could lead to a short-term price increase as the market sentiment improves. However, the article also cautions that this does not necessarily mean the stock will rise in the near term, hence the importance is significant but not critical.
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