Peering Into Otis Worldwide's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Otis Worldwide (NYSE:OTIS) has seen a decrease in short interest, with the current short percent of float at 1.14%, down 11.63% from the last report. The company has 4.61 million shares sold short, requiring an average of 2.25 days for traders to cover their positions. This decline in short interest could indicate a more bullish sentiment towards OTIS among investors. Compared to its peers, OTIS has a lower short interest percentage, with the average for its peer group at 3.07%.
March 27, 2024 | 6:15 pm
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POSITIVE IMPACT
Otis Worldwide's short interest has decreased, indicating a potentially more bullish sentiment towards the stock. With a lower short interest compared to its peers, OTIS may be viewed more favorably by investors.
A decrease in short interest typically indicates that investors are becoming more bullish on a stock. Since OTIS's short interest is not only decreasing but also lower than its peer average, this could be interpreted as a positive signal for the stock's short-term price movement. The importance is rated at 75 due to the direct impact of market sentiment on stock prices, and the confidence level is set at 80, considering the clear trend and comparison with peers.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 90