(EXR) - Analyzing Extra Space Storage's Short Interest
Portfolio Pulse from Benzinga Insights
Extra Space Storage (NYSE:EXR) has seen an 8.46% increase in short interest since its last report, with 4.87 million shares sold short, representing 2.82% of its float. It would take about 3.26 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, EXR has a lower short interest as a percentage of float, with the peer group average at 4.80%.
January 10, 2024 | 7:30 pm
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Extra Space Storage's short interest has increased, which may indicate bearish sentiment but does not necessarily predict a near-term price drop. The company's short interest is below its peer group average.
The increase in short interest suggests that some investors are expecting the price of EXR to fall, which could lead to negative sentiment in the short term. However, since the short interest is lower than the peer group average, it may not be a strong bearish signal. The impact on the stock price is uncertain as short interest is just one of many factors that can affect stock prices.
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