not necessarily, but it might simply mean that others are simply...

not necessarily, but it might simply mean that others are simply ‘gambling’ that the share price is going to fall. Although no-one knows for sure it is heavily assumed that these ‘gamblers’ are betting on a further SAMR delay announcement when BAL announce their updated performance figures later this month along with forward estimates.
If a further delay is announced then they expect a sharp retraction in SP. but if they get it wrong then the LT holders will be smiling.....
So to answer your question, yes be wary and don’t ignore the overall short % figures but it doesn’t mean they are correct, unless there has been any leaked information from BAL which would be unlikely