How Is The Market Feeling About Home Depot?
Portfolio Pulse from Benzinga Insights
Home Depot (NYSE:HD) has seen a 3.12% rise in short interest since the last report, with 9.86 million shares sold short, representing 0.99% of available shares. It would take 2.56 days to cover all short positions. While an increase in short interest can indicate bearish sentiment, Home Depot has less short interest compared to its peers, with an average of 6.29% in the peer group.
January 18, 2024 | 5:45 pm
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NEUTRAL IMPACT
Home Depot's short interest has increased, which could indicate bearish sentiment among investors. However, it remains below the peer average, suggesting a less negative outlook compared to its peers.
The rise in short interest for Home Depot suggests that some investors are expecting the stock price to decline. However, since the short interest is still lower than the peer average, it does not necessarily predict a strong bearish trend. The impact on the stock price is uncertain, hence a neutral score is given.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 80