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Gauging Short Interest in Baker Hughes, a GE Company

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Apr. 18 2018, Updated 7:32 a.m. ET

Short interest in Baker Hughes

Short interest in Baker Hughes, a GE Company (BHGE), as a percentage of its float was 5.7% as of April 12, 2018, compared to 2.7% as of April 12, 2017. Since April 12, 2017, short interest in BHGE has more than doubled. So investors have increased their negative bets on BHGE in the past year. Since April 12, 2017, BHGE’s stock price has decreased ~24%. BHGE’s stock price and short interest as a percentage of float has been inversely related since April 2016.

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Short interest in Baker Hughes’s peers

Since April 12, 2017, short interest in Oil States International (OIS) has decreased 10% while OIS’s stock price decreased 7%. Since April 12, 2017, short interest in Superior Energy Services (SPN) has fallen 26% while its stock price decreased 35%. Short interest in Key Energy Services (KEG) has increased 78% during the period, while its stock price decreased 44%. So investors’ negative bets on OIS and SPN decreased in the past year. Typically, fewer investors expect a stock’s price to fall if short interest decreases.

Has Baker Hughes, a GE Company’s, correlation with crude oil prices changed in the past two years? Let’s find out in the next part of this series.

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