How Is The Market Feeling About Quanta Services?
Portfolio Pulse from Benzinga Insights
Quanta Services (NYSE:PWR) has seen a decrease in short interest, now at 2.64% of its float, down 6.38% from the last report. With 3.39 million shares sold short, it would take about 3.83 days to cover all short positions. This decline in short interest could indicate a more bullish sentiment towards PWR among traders. Compared to its peers, PWR has a lower short interest percentage, with the average for its peer group being 4.01%.
March 22, 2024 | 4:45 pm
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POSITIVE IMPACT
Quanta Services has experienced a decrease in short interest, suggesting a more bullish sentiment among traders. This could potentially lead to a short-term positive impact on PWR's stock price.
The decrease in short interest for Quanta Services indicates that fewer traders are betting against the stock, which can be interpreted as a positive sentiment towards the company. This could lead to an increase in stock price in the short term as the market reacts to this change in sentiment. Additionally, being below the peer group average for short interest further strengthens the bullish case for PWR.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100