Peering Into Autodesk's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Autodesk's (NASDAQ:ADSK) short percent of float has risen 11.28% since its last report, with 3.16 million shares sold short, which is 1.48% of all regular shares available for trading. It would take traders 2.2 days to cover their short positions on average. An increase in short interest can signal that investors have become more bearish. Autodesk's peer group average for short interest as a percentage of float is 3.50%, which means the company has less short interest than most of its peers.
June 28, 2023 | 5:45 pm
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Autodesk's short interest has increased, indicating a potentially bearish sentiment among investors. However, it has less short interest than most of its peers.
The increase in short interest indicates that more investors are betting that Autodesk's stock price will fall. This could put downward pressure on the stock in the short term. However, the fact that Autodesk has less short interest than most of its peers could mitigate this effect to some extent.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100