Peering Into HP's Recent Short Interest
Portfolio Pulse from Benzinga Insights
HP Inc. (NYSE:HPQ) has seen a decrease in short interest, with the current short percent of float at 1.57%, down 8.19% from the last report. The total shares sold short are 13.61 million, requiring approximately 1.65 days for traders to cover their short positions. This decline in short interest suggests a more bullish sentiment towards HPQ compared to the previous period. Additionally, HPQ's short interest is significantly lower than its peer group average of 6.97%, indicating less bearish sentiment towards HPQ compared to its peers.
February 15, 2024 | 4:15 pm
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HP Inc. (NYSE:HPQ) has experienced a decrease in short interest, indicating a more bullish market sentiment towards the stock. The short interest is significantly lower than its peer group average, suggesting a positive outlook compared to its competitors.
The decrease in short interest for HPQ suggests that investors are becoming more optimistic about the company's future performance. This is further supported by the fact that HPQ's short interest is much lower than the average of its peer group, indicating that it is viewed more favorably in comparison. Such a shift in market sentiment can lead to a short-term increase in stock price as investors may interpret the decrease in short interest as a sign of strength.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100