Short sellers have aggressively increased their positions heading into Baker Hughes' Q1 earnings, with short interest jumping 36% over the past month. The oil services giant faces heightened scrutiny from bears as it reports results this afternoon.
Short interest stands at 23.8 million shares, representing 2.41% of the float. That marks a sharp 36% climb over the past 30 days, signaling growing bearish conviction. The increase accelerated in early April, with shares short rising from 15.7 million on March 23rd to current levels. Day-to-day volatility remains high — short interest ticked up 1.8% yesterday alone. Days to cover sits at 2.22, indicating shorts could exit relatively quickly if needed.
The put-call ratio closed at 0.75 yesterday, well below its 20-day average of 0.77. That suggests slightly more call buying than usual heading into the print. The PCR has drifted lower over the past month, falling from above 0.85 in mid-March. The current reading sits near the 52-week low of 0.67, pointing to bullish options positioning that contrasts sharply with the bearish short interest build.
Analyst data is unavailable for this earnings cycle.
BKR stock has rallied 6.4% over the past week and 3.1% over the past month. Shares closed at $64.49 yesterday, up 3.1% on the session. The stock has gained momentum heading into the report despite the rising short interest.
No active ORTEX Alpha signals are currently triggered for Baker Hughes. Short Score stands at 32.14 as of April 22nd, reflecting moderate short interest activity relative to the stock's historical range and peer group.
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