How Is The Market Feeling About Honeywell Intl?
Portfolio Pulse from Benzinga Insights
Honeywell Intl (NYSE:HON) has seen a 4.59% rise in short interest since the last report, with 7.52 million shares sold short, representing 1.14% of available shares. It would take about 2.16 days to cover all short positions. While an increase in short interest can indicate bearish market sentiment, Honeywell has less short interest compared to its peers, with an average of 1.76% in the peer group. This rise in short interest does not necessarily predict a price drop.
January 05, 2024 | 1:00 pm
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Honeywell Intl's short interest has increased, which could be a bearish signal. However, its short interest is lower than the peer average, indicating less bearish sentiment compared to its peers.
The increase in short interest for Honeywell Intl suggests that some investors are expecting the price to fall, which is typically a bearish indicator. However, since the short interest is still lower than the peer average, it does not strongly suggest an impending price decline. The mixed signals mean the short-term impact on the stock price is uncertain, hence a neutral score is given.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 100