British American Tobacco ITV The short float percentage has fallen 41.18% since the last report. The company recently reported that it had done so 4.48 million shares sold short, or 0.2% of all common shares available for trading. Based on trading volume, It would take traders on average 1.0 days to cover their short positions.
Because short-term interest matters
Short interest is the number of shares that have been sold short but have not yet been covered or closed. Short selling occurs when a trader sells shares of a company that he does not own, with the hope that the price will fall. Traders profit from short selling if the stock price falls and lose if it rises.
Short interest is important to monitor because it can serve as an indicator of market sentiment towards a particular stock. An increase in short interest may signal that investors have become more bearish, while a decrease in short interest may signal that they have become more bullish.
See also: List of the most shorted stocks
British American Tobacco Short Interest Chart (3 Months)
As you can see from the chart above, the percentage of shares sold short for British American Tobacco has decreased since its last report. This doesn’t mean the stock will rise in the short term, but traders should be aware that fewer shares are being shorted.
Comparing British American Tobacco’s short interest to that of its competitors
Peer comparison is a popular technique among analysts and investors to evaluate a company’s performance. A company’s peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company’s peer group by reading its 10-K, proxy filing, or by performing your own similarity analysis.
According to Benzinga Pro, British American Tobacco’s peer group average for short interest as a percentage of free float is 2.86%, meaning the company has less little interest compared to most of its peers.
Did you know that it is possible to actually increase short interest bullish for a title? This post from Benzinga Money explains how to profit from it.
This article was generated by Benzinga’s automated content engine and was reviewed by an editor.