Looking Into Ingersoll Rand's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Ingersoll Rand (NYSE:IR) has experienced a 22.94% increase in short interest since its last report, with 4.11 million shares sold short, representing 1.34% of its float. The average time to cover these short positions is 1.67 days. While an increase in short interest can indicate bearish sentiment, it does not necessarily predict a near-term price drop. In comparison to its peers, Ingersoll Rand has a lower short interest as a percentage of float, with the peer group average at 3.35%.
January 11, 2024 | 1:00 pm
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Ingersoll Rand has seen a significant rise in short interest, but remains below the peer group average. This could indicate bearish sentiment but isn't a definitive predictor of immediate stock price movement.
The increase in short interest suggests that investors may be expecting a price decline. However, since the short interest is still lower than the peer average, it may not have a strong bearish impact on the stock price in the short term. Additionally, high short interest can sometimes lead to a short squeeze if the stock price starts to rise, which can actually drive the price up temporarily.
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IMPORTANCE 60
RELEVANCE 100