How Is The Market Feeling About Target?
Portfolio Pulse from Benzinga Insights
Target Corporation (NYSE:TGT) has seen a 3.35% increase in short interest since the last report, with 8.54 million shares sold short, representing 1.85% of available shares. It would take about 2.89 days to cover all short positions. While an increase in short interest can indicate bearish sentiment, it does not necessarily predict a price drop. Target has less short interest compared to its peer group average of 4.30%.
January 18, 2024 | 8:00 pm
News sentiment analysis
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NEUTRAL IMPACT
Target's short interest has increased, which may suggest bearish market sentiment, but it's still below the peer group average. This could lead to increased volatility in the short term.
The rise in short interest indicates that some investors are expecting the price of Target's stock to fall, which could lead to short-term volatility. However, since the short interest is below the peer average, it may not be a strong bearish signal. The impact is scored neutral due to these conflicting indicators.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 80