Looking Into Ingersoll Rand's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Ingersoll Rand's (NYSE:IR) short interest has increased by 12.8%, with 5.68 million shares sold short, representing 1.85% of its float. This indicates a bearish market sentiment, although it has less short interest compared to its peers' average of 3.31%. The rise in short interest doesn't necessarily predict a price drop but suggests increased bearishness among traders.
April 29, 2024 | 3:45 pm
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Ingersoll Rand's short interest has risen by 12.8%, indicating a bearish sentiment among traders. However, it remains below its peer average, suggesting a relatively stronger position.
The increase in short interest for Ingersoll Rand suggests that traders are expecting the stock price to decline, which could lead to short-term price pressure. However, being below the peer average in short interest might mitigate some negative impact, indicating a mixed outlook.
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RELEVANCE 90