Peering Into Honeywell Intl's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Honeywell Intl's (NYSE:HON) short interest has increased by 22.22% since the last report, with 7.16 million shares sold short, representing 1.1% of its float. It would take about 1.93 days to cover these short positions based on current trading volume. This rise in short interest can indicate a more bearish market sentiment towards HON, although it has less short interest compared to its peer group average of 1.52%. The increase in short interest doesn't necessarily predict a price drop but indicates heightened short selling activity.
March 05, 2024 | 8:30 pm
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Honeywell Intl's short interest has risen by 22.22%, indicating a potential increase in bearish sentiment among investors. However, its short interest is still below the peer group average.
The increase in short interest for Honeywell Intl suggests that more investors are betting against the stock, which can be a bearish signal. However, the fact that it's below the peer group average might mitigate the negative impact somewhat. The short-term impact is likely negative due to the increased bearish sentiment, but the below-average short interest compared to peers provides a slightly cushioning effect.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 90