Looking Into Sysco's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Sysco's (NYSE:SYY) short percent of float has risen 5.99% since its last report, with 8.96 million shares sold short, which is 1.77% of all regular shares available for trading. It would take traders 3.98 days to cover their short positions on average. An increase in short interest can signal that investors have become more bearish. Sysco's peer group average for short interest as a percentage of float is 4.67%, which means the company has less short interest than most of its peers.
August 04, 2023 | 11:22 am
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Sysco's short percent of float has increased, indicating a bearish sentiment among investors. However, it has less short interest than most of its peers.
The increase in Sysco's short percent of float indicates that more investors are betting against the company, which could put downward pressure on the stock price in the short term. However, the fact that Sysco has less short interest than most of its peers could mitigate this effect to some extent.
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