Looking Into Modine Manufacturing's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Modine Manufacturing (NYSE:MOD) has seen a 14.62% increase in short interest since its last report, with 2.49 million shares sold short, representing 4.86% of its float. It would take approximately 2.67 days to cover these short positions based on current trading volumes. This rise in short interest can indicate a bearish market sentiment towards MOD, though it's noted that an increase in short interest doesn't necessarily predict a stock price decline. Compared to its peers, MOD has a lower short interest as a percentage of float, with the average being 9.93%.
March 14, 2024 | 8:15 pm
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NEGATIVE IMPACT
Modine Manufacturing has experienced a significant increase in short interest, indicating a potentially bearish sentiment among investors. However, its short interest is still below the peer group average.
The increase in short interest for MOD suggests that investors might be expecting the stock price to decline, which could lead to a negative short-term impact on the stock price. However, the fact that MOD's short interest is below its peer group average might mitigate some of the negative sentiment. The importance is rated at 70 due to the potential impact on investor sentiment and stock price, with a confidence level of 80 reflecting the clear data on short interest but acknowledging market unpredictability.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 90