How Is The Market Feeling About Patrick Industries?
Portfolio Pulse from Benzinga Insights
Patrick Industries (NYSE:PATK) has seen a 12% increase in its short percent of float, now at 8.4%. This indicates a bearish sentiment among investors, as it would take traders 15 days to cover their short positions. The company's short interest is higher than its peers, whose average is 7.05%.
June 20, 2024 | 7:00 pm
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
Patrick Industries has experienced a 12% increase in short percent of float, now at 8.4%, indicating a bearish sentiment among investors. It would take traders 15 days to cover their short positions, which is higher than the peer group average of 7.05%.
The increase in short interest suggests that investors are bearish on Patrick Industries, which could lead to downward pressure on the stock price in the short term. The higher short interest compared to peers further supports this sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100