How Is The Market Feeling About Consolidated Edison?
Portfolio Pulse from Benzinga Insights
Consolidated Edison (NYSE:ED) has seen a 13.99% increase in short interest since its last report, with 7.09 million shares sold short, representing 2.77% of its float. It would take about 3.31 days to cover these short positions based on average trading volume. While an increase in short interest can indicate bearish sentiment, it does not necessarily predict a near-term price drop. Compared to its peers, ED has less short interest, with the peer group average at 2.96% of float.
January 08, 2024 | 2:15 pm
News sentiment analysis
Sort by:
Ascending
NEUTRAL IMPACT
Consolidated Edison's short interest has increased, which may indicate bearish sentiment among investors. However, its short interest is still below the peer group average, suggesting a less negative outlook compared to its peers.
The rise in short interest for Consolidated Edison suggests that some investors are expecting the stock price to decline. However, since the short interest is below the peer average, it may not be a strong bearish signal. The impact on the stock price in the short term is uncertain, hence a neutral score is given. The relevance is high as the article is directly about ED's short interest, but the importance is moderate because short interest is just one of many factors that can affect stock prices. The confidence level is not at the maximum because market sentiment can be unpredictable and does not always correlate directly with stock price movements.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 80