Cummins Inc.
NYSEShort interest in CMI jumped 48% over the past week, reaching 2.19 million shares as of March 31. The surge marks a sharp reversal for the construction equipment maker, which saw its stock climb nearly 20% over the past month. Days to cover rose to 2.53 from 1.77 a week earlier. This reflects both the increase in short shares and recent trading volume patterns. Cost to borrow also climbed 37% over the week to 0.47%, suggesting modestly increased shorting demand. The timing is notable. Cummins shares gained 3.8% last week and closed at $638.99 on April 21. The stock has been on a strong run, up 19.8% over the month. Short sellers appear to be betting the rally has gone too far. Over the past month, short interest has surged 59%. That's a significant build from the 1.38 million shares short in late January. Yet utilization remains extremely low at just 0.17%, well below the 52-week high of 1.81%. This indicates ample shares remain available to borrow. Options sentiment has turned slightly bullish. The put-call ratio dropped to 0.85, below the 20-day average of 0.90. The z-score of -1.48 suggests traders are leaning toward calls relative to recent patterns. Cummins reports earnings on May 5. The construction machinery sector has faced mixed signals this year as infrastructure spending forecasts shift. Short sellers may be positioning ahead of that report, betting on disappointment or valuation concerns after the recent surge. This is not financial advice. ORTEX data may contain inaccuracies.
Short Sellers Pile Into Cummins
Short interest in CMI jumped 48% over the past week, reaching 2.19 million shares as of March 31. The surge marks a sharp reversal for the construction equipment maker, which saw its stock climb nearly 20% over the past month. Days to cover rose to 2.53 from 1.77 a week earlier. This reflects both the increase in short shares and recent trading volume patterns. Cost to borrow also climbed 37% over the week to 0.47%, suggesting modestly increased shorting demand. The timing is notable. Cummins shares gained 3.8% last week and closed at $638.99 on April 21. The stock has been on a strong run, up 19.8% over the month. Short sellers appear to be betting the rally has gone too far. Over the past month, short interest has surged 59%. That's a significant build from the 1.38 million shares short in late January. Yet utilization remains extremely low at just 0.17%, well below the 52-week high of 1.81%. This indicates ample shares remain available to borrow. Options sentiment has turned slightly bullish. The put-call ratio dropped to 0.85, below the 20-day average of 0.90. The z-score of -1.48 suggests traders are leaning toward calls relative to recent patterns. Cummins reports earnings on May 5. The construction machinery sector has faced mixed signals this year as infrastructure spending forecasts shift. Short sellers may be positioning ahead of that report, betting on disappointment or valuation concerns after the recent surge. This is not financial advice. ORTEX data may contain inaccuracies.
Snapshot as of 6 May 2026
CMI enters its May 12 Q1 earnings call with a rare alignment: the stock is up 23% in a month, the Street is scrambling to lift targets, and the borrow market is one of the loosest in the industrial universe. The setup…
Cummins heads into its May 5 Q1 earnings call with options positioning at its most cautious level in over a year — just as the stock has staged its biggest monthly rally in recent memory. The options market has turned…
CMI heads into its May 5 Q1 results with analyst conviction running higher than the stock itself — a gap worth watching as the earnings date approaches. The Street has been busy revising upward. Multiple firms raised…
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