HCA Healthcare’s HCA short percent of float has increased by 6.19% since its last report. The company recently reported that it has 2.42 million shares sold short, which is equivalent to 1.2% of all regular shares available for trading. Based on its trading volume, it would take traders an average of 2.53 days to cover their short positions.
Why Short Interest Matters
Short interest refers to the number of shares that have been sold short but have not been covered or closed out. Short selling is when a trader sells shares of a company they do not own, hoping that the price will decline. Traders profit from short selling if the stock price falls, but incur losses if it rises.
Monitoring short interest is important because it can indicate market sentiment towards a specific stock. An increase in short interest suggests more bearishness among investors, while a decrease suggests more bullishness.
See Also: List of the most shorted stocks
HCA Healthcare Short Interest Graph (3 Months)
As shown in the above chart, the percentage of shares sold short for HCA Healthcare has increased since its last report. This does not necessarily mean that the stock will decline in the near-term, but it is important for traders to be aware of the growing number of shorted shares.
Comparing HCA Healthcare’s Short Interest Against Its Peers
Comparing a company’s short interest to its peers is a common technique used by analysts and investors to assess its performance. A company’s peers are other companies with similar characteristics, such as industry, size, age, and financial structure. You can identify a company’s peer group by reviewing its 10-K, proxy filings, or conducting your own similarity analysis.
According to Benzinga Pro, the peer group average for short interest as a percentage of float is 5.44%. This indicates that HCA Healthcare has lower short interest compared to most of its peers.
Did you know that an increase in short interest can actually be positive for a stock? This post by Benzinga Money explains how you can profit from it.
This article was generated by Benzinga’s automated content engine and was reviewed by an editor.
