(RRX) - Analyzing Regal Rexnord's Short Interest
Portfolio Pulse from Benzinga Insights
Regal Rexnord's (NYSE:RRX) short interest has increased by 29.49% since the last report, with 1.05 million shares sold short, representing 2.02% of its float. The current short interest suggests it would take 1.57 days to cover all short positions. This rise in short interest indicates a more bearish market sentiment towards RRX, although it has less short interest compared to its peer group average of 9.45%. The increase in short interest doesn't necessarily predict a price drop but indicates heightened short selling activity.
March 15, 2024 | 5:30 pm
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Regal Rexnord's short interest has risen significantly, indicating a bearish market sentiment but still below its peer group average.
The increase in short interest for RRX suggests that investors are becoming more bearish on the stock. However, since its short interest is still below the peer group average, it indicates that while there is increased bearish sentiment, it is not as severe as it could be. The short-term impact is likely negative due to the bearish sentiment, but the below-average short interest compared to peers might mitigate some of the negative impact.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100