(XEL) - Analyzing Xcel Energy's Short Interest
Portfolio Pulse from Benzinga Insights
Xcel Energy's (NYSE:XEL) short interest has increased by 29.27% since the last report, with 7.67 million shares sold short, representing 1.59% of its float. The current short interest suggests a bearish market sentiment towards XEL, although it has less short interest compared to its peers' average of 2.50%. The increase in short interest does not necessarily predict a price drop but indicates heightened short selling activity.
April 15, 2024 | 6:00 pm
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NEGATIVE IMPACT
Xcel Energy's short interest has risen by 29.27%, with 7.67 million shares sold short. This represents 1.59% of its float, indicating a bearish sentiment but still below its peer average.
The increase in short interest for Xcel Energy suggests that investors are becoming more bearish on the stock. However, since the short interest is below the peer group average, it indicates that while there is a negative sentiment, it may not be as severe compared to its peers. The short-term impact is likely negative due to the increased bearish sentiment, but the below-average short interest relative to peers provides a slightly mitigating factor.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100