How Is The Market Feeling About Coterra Energy?
Portfolio Pulse from Benzinga Insights
Coterra Energy (NYSE:CTRA) has seen a 6.31% increase in its short percent of float since the last report, with 19.11 million shares sold short, representing 3.37% of available shares. It would take about 2.76 days to cover these short positions based on current trading volume. This rise in short interest indicates a more bearish market sentiment towards CTRA, although it's not a definitive predictor of a price drop. Compared to its peers, CTRA has a lower short interest percentage of 3.37% versus the peer group average of 6.35%.
February 15, 2024 | 4:15 pm
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Coterra Energy's short interest has increased, indicating a bearish market sentiment. However, its short interest is lower than its peer group average.
The increase in short interest for CTRA suggests that investors are becoming more bearish on the stock, potentially leading to downward pressure on its price in the short term. However, being below the peer average might mitigate some negative perceptions, indicating a mixed impact.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 90