(NVO) - Analyzing Novo Nordisk's Short Interest
Portfolio Pulse from Benzinga Insights
Novo Nordisk's (NYSE:NVO) short percent of float has risen 8.33% since its last report, with 2.26 million shares sold short, which is 0.13% of all regular shares available for trading. It would take traders 1.81 days to cover their short positions on average. An increase in short interest can signal that investors have become more bearish. Novo Nordisk's peer group average for short interest as a percentage of float is 3.71%, which means the company has less short interest than most of its peers.
July 18, 2023 | 8:15 pm
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Novo Nordisk's short percent of float has risen 8.33%, indicating a potential bearish sentiment among investors. However, the company has less short interest than most of its peers.
The increase in short interest indicates that more investors are betting against Novo Nordisk, which could put downward pressure on the stock price in the short term. However, the company's short interest is still lower than its peers, which could mitigate some of this pressure.
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IMPORTANCE 70
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