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Williams Companies' Sluggish Performance Continued Last Week

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Part 4
Williams Companies' Sluggish Performance Continued Last Week PART 4 OF 5

Short Interest in Williams Companies Could Mean Bullish Sentiment

Short interest in Williams Companies

Short interest in Williams Companies (WMB) as a percentage of float has come down to 1.2%. The ratio is lower compared to the past year’s average of 2.6%. Moreover, it’s lower than the historical three-year average of 3.0%. This lower ratio might indicate bullish sentiment.

Short Interest in Williams Companies Could Mean Bullish Sentiment

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The above chart shows one-year closing prices and short interest as a percentage of the float for WMB. Short interest is the number of shares sold short whereas short interest as a percentage of float is the number of shares sold short divided by floating shares. High short interest or sudden increase in short interest generally indicates pessimism about the stock. However, this might not necessarily result in a stock price decline as short position holders try to cover their short positions, which could result in a stock rally.

Industry average

The Alerian MLP Index (AMZ), which tracks 50 energy MLPs, has an average short interest as a percentage of float of 3.4%. Short interest in WMB as a percentage of tge float ratio is below the industry average. Sunoco LP (SUN), Boardwalk Pipeline Partners (BWP), and Golar LNG Partners (GMLP) are among the AMZ constituents with the highest short interest to float ratios.

Put-call ratio

Put-call ratio is another measure to look at investors’ sentiment toward a stock. A high put-call ratio might indicate that a large number of investors expect the stock price to fall, and vice versa. WMB has a put-call ratio close to zero.

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