(SUM) - Analyzing Summit Materials's Short Interest
Portfolio Pulse from Benzinga Insights
Summit Materials (NYSE:SUM) has seen a decrease in short interest, now at 2.65% of its float, down 7.02% from the last report. With 4.27 million shares sold short, it would take about 3.25 days to cover all short positions. This change in short interest could indicate a shift in market sentiment towards the stock. Compared to its peers, SUM has a higher short interest percentage, suggesting more bearish sentiment among investors relative to its peer group.
April 11, 2024 | 1:45 pm
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Summit Materials has experienced a decrease in short interest, suggesting a potential shift in investor sentiment towards the stock. This could influence the stock's short-term performance, especially considering its higher short interest compared to peers.
A decrease in short interest typically indicates that investors are becoming less bearish on a stock, which can lead to a positive impact on its price in the short term. Given that Summit Materials has a higher short interest than its peers, this decrease is particularly noteworthy and could suggest a stronger bullish sentiment among investors.
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