Peering Into Hormel Foods's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Hormel Foods (NYSE:HRL) has seen a 6.25% increase in short interest since its last report, with 12.97 million shares sold short, representing 2.38% of its float. It would take about 4.38 days to cover all short positions. This rise in short interest could indicate a more bearish market sentiment towards HRL, although it has less short interest compared to its peers' average of 5.30%.
February 20, 2024 | 5:00 pm
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Hormel Foods has experienced a 6.25% increase in short interest, indicating a potentially more bearish sentiment towards the stock. However, it remains below the peer average.
The increase in short interest suggests that investors might be expecting the price of HRL to decline, which could lead to negative pressure on the stock price in the short term. However, being below the peer average might mitigate some negative perceptions.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 90