United States Steel Corporation (NYSE:X) – What does the market think of United States Steel Corporation?
United States Steel Corporation (NYSE:X) Short Percent Free Float has increased 5.21% since its last report. The company recently announced that it has 41.56 million shares sold short, or 15.54% of all common shares available for trading. Based on its trading volume, it would take traders an average of 2.1 days to cover their short positions.
Why short interest matters
Short interest is the number of shares that have been sold short but have not yet been covered or closed. Short selling is when a trader sells shares of a company they don’t own, hoping the price will go down. Traders make money from short selling if the stock price goes down and they lose if it goes up.
Short-term interest is important to track as it can act as an indicator of market sentiment towards a particular security. 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 best-selling stocks
United States Steel Corporation Short Term Interest Chart (3 Months)
As you can see from the chart above, the percentage of shares sold short for United States Steel Corporation has increased since its last report. This does not mean the stock will fall in the short term, but traders should be aware that more stocks are being sold short.
Comparison of United States Steel Corporation’s short-term interests against its peers
Peer comparison is a popular technique among analysts and investors to assess a company’s performance. A company’s peer is another company that has similar characteristics, 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, the United States Steel Corporation’s peer group average for short-term interest as a percentage of free float is 3.39%, which means the company has Following short interest than most of his peers.
Did you know that increasing short-term interest can actually be bullish for a stock? This Benzinga Money article explains how you can take advantage of it..
This article was generated by Benzinga’s automated content engine and has been reviewed by an editor.