Peering Into ITT's Recent Short Interest
Portfolio Pulse from Benzinga Insights
ITT Inc. (NYSE:ITT) has seen a 9.09% increase in its short percent of float since the last report, with 856 thousand shares sold short, representing 1.2% of available shares. This indicates a bearish sentiment among investors, although it doesn't necessarily predict a near-term price drop. ITT's short interest is below its peer group average of 3.06%, suggesting less bearish sentiment compared to its peers.
February 23, 2024 | 2:45 pm
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ITT Inc. has experienced a rise in short interest, indicating a bearish market sentiment. However, its short interest is lower than its peer group average, suggesting a relatively less bearish outlook among investors.
The increase in short interest for ITT Inc. suggests that investors are becoming more bearish on the stock, potentially leading to downward pressure on its price in the short term. However, the fact that ITT's short interest is below its peer group average could mitigate the extent of bearish sentiment, suggesting a less severe impact than if it were above average.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100