How Is The Market Feeling About Westinghouse Air Brake?
Portfolio Pulse from Benzinga Insights
Westinghouse Air Brake (NYSE:WAB) has seen a decrease in short interest, with the short percent of float dropping 8.63% since the last report. The company has 2.00 million shares sold short, representing 1.27% of available shares. The average time to cover these short positions is 3.02 days. A decrease in short interest can indicate a more bullish sentiment towards the stock. Compared to its peers, WAB has a lower short interest as a percentage of float, with the peer group average at 4.44%.
January 22, 2024 | 6:45 pm
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Westinghouse Air Brake's short interest has decreased, which may suggest a more bullish sentiment among investors. The company's short interest is below the peer group average, potentially indicating a positive outlook compared to its peers.
The decrease in short interest for WAB suggests that investors are becoming more optimistic about the company's future performance. Since short interest is a contrarian indicator, a decline often precedes a rise in stock price. However, the article does not guarantee a near-term price rise, so while the sentiment is positive, the impact score is cautiously optimistic.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100