Looking Into HP's Recent Short Interest
Portfolio Pulse from Benzinga Insights
HP Inc.'s (NYSE:HPQ) short interest has increased by 10.95% since the last report, with 19.18 million shares sold short, representing 2.23% of its float. This indicates a bearish market sentiment, although it's below the peer group average of 6.50% short interest. The article suggests that an increase in short interest doesn't necessarily predict a stock price fall.
May 01, 2024 | 4:15 pm
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HP Inc.'s short interest has risen by 10.95%, indicating increased bearish sentiment, but remains below its peer average.
The increase in short interest for HP Inc. suggests that more investors are betting against the stock, which typically indicates a bearish outlook. However, being below the peer average might mitigate the negative impact, as it shows HP is not as heavily shorted as others in its sector. The short-term impact is likely negative due to the increased bearish sentiment, but the below-average short interest relative to peers could provide some cushion.
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