Looking Into Illumina's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Illumina's (NASDAQ:ILMN) short percent of float has risen 29.84% since its last report, with 5.59 million shares sold short, which is 3.96% of all regular shares available for trading. It would take traders 4.2 days to cover their short positions on average. The company's short interest is less than its peer group average of 4.90%.
June 29, 2023 | 8:30 pm
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Illumina's short interest has increased significantly, indicating a bearish sentiment among traders. However, its short interest is still less than its peer group average.
The increase in short interest indicates that traders are expecting the price of Illumina's stock to fall. However, the fact that its short interest is less than its peer group average suggests that the bearish sentiment is not as strong as it is for other similar companies. This could potentially limit the downward pressure on the stock's price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100