Peering Into Devon Energy's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Devon Energy's short interest has increased by 3.02%, with 16.85 million shares sold short, representing 3.07% of its float. This is below the peer group average of 5.68%. The rise in short interest suggests a bearish sentiment, but it doesn't guarantee a price drop.
August 21, 2024 | 5:45 pm
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Devon Energy's short interest has increased to 3.07% of its float, indicating a rise in bearish sentiment. However, this is still below the peer average of 5.68%, suggesting relatively less pessimism compared to peers.
The increase in short interest suggests a bearish sentiment towards Devon Energy, which could lead to downward pressure on the stock price. However, since the short interest is below the peer average, the sentiment is not as negative as for its peers.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100