Peering Into Edison Intl's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Edison Intl's (NYSE:EIX) short interest has increased by 5.03% since the last report, with 6.45 million shares sold short, representing 2.09% of its float. It would take approximately 3.88 days to cover these short positions. An increase in short interest can indicate bearish market sentiment, but Edison Intl has less short interest compared to its peer group average of 2.68%. This could be interpreted in various ways, including potential bullish outcomes.
April 05, 2024 | 3:00 pm
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NEUTRAL IMPACT
Edison Intl's short interest has risen, indicating increased bearish sentiment, but remains below its peer group average.
The increase in short interest for Edison Intl suggests that there might be a bearish sentiment among traders regarding the stock. However, since its short interest is below the peer group average, this could also indicate relative strength or potential for a bullish outcome if short sellers begin to cover, leading to a short squeeze. The impact on the stock price in the short term is uncertain, hence the neutral score.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 90