How Is The Market Feeling About L3Harris Technologies?
Portfolio Pulse from Benzinga Insights
L3Harris Technologies (NYSE:LHX) has seen a decrease in short interest, with the short percent of float dropping 13.11% since the last report. The company has 2.01 million shares sold short, representing 1.06% of available shares. The average time to cover these short positions is 1.74 days. A decrease in short interest can indicate a more bullish sentiment towards the stock. L3Harris has a lower short interest compared to its peer group average of 2.94%. Short interest is a key indicator of market sentiment and changes in short interest can have implications for stock performance.
January 30, 2024 | 6:00 pm
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L3Harris Technologies has experienced a decline in short interest, which may suggest a more bullish sentiment among investors. The short interest is lower than the peer group average, potentially indicating a positive outlook for the stock.
The decrease in short interest for L3Harris Technologies suggests that investors are less bearish on the stock, which could lead to a short-term increase in its price. Since short interest is an indicator of market sentiment, a decline often precedes a rise in stock price, especially when it is below the peer group average. However, the article also cautions that this does not guarantee a near-term price rise, hence the importance is significant but not critical.
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