Peering Into Cadence Design Sys's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Cadence Design Sys's (NYSE:CDNS) short percent of float has risen 8.82% since its last report, with 2.26 million shares sold short, which is 1.11% of all regular shares available for trading. It would take traders 1.57 days to cover their short positions on average. The company's short interest is less than its peer group average of 3.16%.
August 04, 2023 | 3:23 pm
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The rise in short interest in Cadence Design Sys could indicate a bearish sentiment among investors. However, its short interest is still less than its peer group average.
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. An increase in short interest can signal that investors have become more bearish. However, the fact that Cadence Design Sys's short interest is less than its peer group average could mean that the bearish sentiment is not as strong as it could be.
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