(ILMN) - Analyzing Illumina's Short Interest
Portfolio Pulse from Benzinga Insights
Illumina's (NYSE:ILMN) short percent of float has risen 3.47% since its last report, with 7.15 million shares sold short, which is 5.07% of all regular shares available for trading. It would take traders 6.54 days to cover their short positions on average. The company has more short interest than most of its peers, with an average of 4.75%.
August 04, 2023 | 11:40 am
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Illumina's short interest has increased, indicating a bearish sentiment among traders. However, high short interest can sometimes be bullish.
The increase in short interest indicates that more traders are betting that Illumina's stock price will fall. However, if the stock price rises instead, these traders will have to buy back the shares they shorted, potentially causing a short squeeze and driving the price up.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100