(POWL) - Analyzing Powell Industries's Short Interest
Portfolio Pulse from Benzinga Insights
Powell Industries (NYSE:POWL) has seen a 29.11% increase in short interest, with 1.87 million shares sold short, representing 23.82% of its float. This is significantly higher than its peers' average short interest of 9.70%. It would take traders 5.1 days to cover their short positions.
June 10, 2024 | 3:30 pm
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Powell Industries has experienced a significant increase in short interest, now at 23.82% of its float. This could indicate bearish sentiment among investors, although it doesn't guarantee a near-term price drop.
The significant increase in short interest suggests that more investors are betting against Powell Industries, which could indicate bearish sentiment. However, this does not necessarily mean the stock will fall in the short term.
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