Peering Into L3Harris Technologies's Recent Short Interest
Portfolio Pulse from Benzinga Insights
L3Harris Technologies (NYSE:LHX) has seen a decrease in short interest, with 1.63 million shares sold short, representing 0.96% of its float. This is a 9.43% decline from its last report, indicating a potential shift in market sentiment towards the stock. The average time to cover these short positions is 1.47 days. Compared to its peers, LHX has a lower short interest as a percentage of float, with the peer group average at 3.46%.
April 04, 2024 | 3:15 pm
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L3Harris Technologies has experienced a decrease in short interest, indicating a potential improvement in market sentiment towards the company.
A decrease in short interest typically suggests that investors are becoming more bullish on a stock. For L3Harris Technologies, this reduction in short interest could indicate an improving sentiment among traders and investors, potentially leading to a short-term positive impact on the stock price. The comparison with peers further highlights LHX's stronger position, as it has a lower percentage of short interest compared to the average, suggesting less bearish sentiment among investors towards LHX compared to its peers.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 90