Peering Into Clean Harbors's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Clean Harbors (NYSE:CLH) has seen a 5.83% increase in short interest since its last report, with 561 thousand shares sold short, representing 1.09% of its float. The short interest now takes approximately 1.94 days to cover. This rise in short interest indicates a more bearish market sentiment towards CLH, although it has less short interest compared to its peers' average of 3.05%. The increase in short interest can be a complex indicator, potentially bullish under certain conditions.
April 17, 2024 | 6:15 pm
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Clean Harbors has experienced a 5.83% increase in short interest, indicating a bearish sentiment but still below peer average. This could suggest a cautious outlook from investors.
The increase in short interest for Clean Harbors suggests that investors are becoming more bearish on the stock. However, since the short interest is still below the peer average, it indicates that the sentiment is not overwhelmingly negative. The short interest level also suggests that there is not a significant risk of a short squeeze in the near term, as it would take less than two days to cover all short positions. Therefore, the impact on the stock price in the short term is likely to be neutral, as the market absorbs this information and balances it against other factors.
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IMPORTANCE 70
RELEVANCE 90