(ON) - Analyzing ON Semiconductor's Short Interest
Portfolio Pulse from Benzinga Insights
ON Semiconductor's (NYSE:ON) short percent of float has risen 5.48% since its last report, with 29.22 million shares sold short, which is 10.21% of all regular shares available for trading. It would take traders 6.09 days to cover their short positions on average. The company's short interest is higher than its peer group average of 4.48%.
August 04, 2023 | 2:15 pm
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NEUTRAL IMPACT
ON Semiconductor's short interest has increased, indicating a bearish sentiment among traders. However, this does not necessarily mean the stock price will fall in the near term.
An increase in short interest indicates that more traders are betting that the stock price will fall. However, this is not a guaranteed predictor of stock price movement. The stock's performance will also depend on other factors such as the company's financial performance, market conditions, and investor sentiment.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100