How Is The Market Feeling About Hubbell?
Portfolio Pulse from Benzinga Insights
Hubbell (NYSE:HUBB) has seen a 42.86% increase in short interest, with 680,000 shares sold short, representing 1.6% of its float. This indicates a bearish market sentiment, although it's below the peer group average of 10.06% short interest. The rise in short interest doesn't necessarily predict a price drop but suggests increased bearishness among traders.
March 07, 2024 | 6:15 pm
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Hubbell's short interest has significantly increased, indicating a bearish sentiment among traders. However, it remains below the peer average.
The increase in short interest suggests that traders are betting against Hubbell, expecting its stock price to fall. This bearish sentiment, if widespread, could lead to downward pressure on HUBB's stock price in the short term. However, the fact that it's still below the peer average might mitigate the impact slightly.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 90