How Is The Market Feeling About Xcel Energy?
Portfolio Pulse from Benzinga Insights
Xcel Energy (NYSE:XEL) has seen a 40.71% increase in short interest since its last report, with 8.79 million shares sold short, representing 1.59% of its float. It would take about 2.43 days to cover all short positions. While high short interest can indicate bearish market sentiment, it's not a definitive predictor of a stock's direction. XEL's short interest is below its peer group average of 2.65%.
January 11, 2024 | 4:15 pm
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NEUTRAL IMPACT
Xcel Energy's increased short interest suggests bearish sentiment, but it's still below the peer average. This could lead to increased volatility in the short term.
The rise in short interest for Xcel Energy indicates that some investors are expecting the price to fall, which could lead to increased selling pressure and volatility. However, since the short interest is below the peer average, it may not be a strong bearish signal. The impact on the stock price is uncertain, hence a neutral score is given.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 80