How Is The Market Feeling About ONEOK?
Portfolio Pulse from Benzinga Insights
ONEOK, Inc. (NYSE:OKE) has seen an 11.43% increase in short interest since the last report, with 11.19 million shares sold short, representing 2.34% of available shares. The short interest ratio is 1.86 days to cover. While an increase in short interest can indicate bearish sentiment, ONEOK has less short interest compared to its peers' average of 3.44%. The rise in short interest does not necessarily predict a near-term price drop.
January 03, 2024 | 2:00 pm
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NEUTRAL IMPACT
ONEOK's increased short interest suggests bearish market sentiment, but it remains below the peer group average. This could lead to increased volatility in the short term.
The increase in short interest indicates that investors may be expecting a price decline. However, since ONEOK's short interest is below the peer average, the impact on the stock price may be muted. The short interest ratio suggests that any price movements could be covered relatively quickly, which may limit the downside risk. The article does not provide any specific negative news about the company that would justify a significant drop in stock price, hence the neutral score.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 100