Many investors appear to be quite bearish on Martin Marietta Materials Inc. (MLM), especially if you look at the percentage of the float that is sold short for this stock. Currently, 22.18% of the float is sold short, suggesting an extreme level of bearishness for MLM.
While investors might be piling up against this stock for any number of reasons, it is important to note that MLM has seen some weakness as of late, as the security hasn’t been able to get into positive territory over the past four weeks, losing 1.1% in the time frame.
Better Trading Ahead?
While the short interest and the recent performance are certainly troubling, there is reason to be optimistic on this stock. Recent earnings estimate activity has actually been quite positive as of late, even in the face of such widespread pessimism.
— Zacks Investment Research