How Is The Market Feeling About SP Plus?
Portfolio Pulse from Benzinga Insights
SP Plus (NYSE:SP) has seen a 12.5% decrease in short interest, now at 1.09 million shares or 5.6% of float, taking 6.2 days on average to cover. This decline in short interest may indicate a more bullish sentiment towards SP Plus compared to its peers, where the average short interest is 3.08% of float.
March 20, 2024 | 2:15 pm
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SP Plus's short interest has decreased by 12.5%, indicating a potentially more bullish sentiment towards the stock in the short term.
A decrease in short interest typically indicates that investors are becoming more bullish on a stock. For SP Plus, this decrease from its previous report suggests that market sentiment is improving. Given that SP Plus has a higher short interest than its peer average, this reduction is particularly noteworthy and could lead to positive short-term price movement as the market reacts to this change in sentiment.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 90