How Is The Market Feeling About Analog Devices?
Portfolio Pulse from Benzinga Insights
Analog Devices (NASDAQ:ADI) has seen a rise in its short percent of float by 28.21% since its last report, with 7.48 million shares sold short. This represents 1.5% of all regular shares available for trading. The short interest for Analog Devices is less than its peer group average of 4.78%. Short interest can act as an indicator of market sentiment towards a stock.
June 28, 2023 | 3:30 pm
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Analog Devices has seen a rise in short interest, which could indicate a bearish sentiment in the market. However, its short interest is less than its peer group average, which could be a positive sign.
An increase in short interest can indicate a bearish sentiment towards a stock. However, the fact that Analog Devices' short interest is less than its peer group average could mean that the market sentiment towards it is not as negative as it is towards its peers. This could potentially have a neutral impact on its stock price in the short term.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100