The short percent of float for AMETEK (NYSE:AME) has decreased by 8.43% since its last report. The company has reported that there are 1.55 million shares sold short, which represents 0.76% of all regular shares available for trading. Based on its trading volume, it would take traders an average of 2.25 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 yet been covered or closed out. Short selling occurs when a trader sells shares of a company they do not own, hoping that the price will drop. Traders profit from short selling if the stock price falls, but lose money if it rises.
Monitoring short interest is important because it can provide insights into market sentiment towards a particular stock. An increase in short interest may indicate that investors have become more bearish, while a decrease in short interest may suggest they have become more bullish.
See Also: List of the most shorted stocks
AMETEK Short Interest Graph (3 Months)
As shown in the chart above, the percentage of shares sold short for AMETEK has decreased compared to its last report. However, this does not guarantee that the stock will rise in the near-term. Traders should be aware that fewer shares are currently being shorted.
Comparing AMETEK’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 reading its 10-K, proxy filing, or conducting your own similarity analysis.
According to Benzinga Pro, the average short interest as a percentage of float for AMETEK’s peer group is 11.72%. This means that AMETEK has lower short interest compared to most of its peers.
Did you know that increasing 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.
