(INTU) - Analyzing Intuit's Short Interest
Portfolio Pulse from Benzinga Insights
Intuit's (NYSE:INTU) short percent of float has risen 25.21% since its last report, with 4.05 million shares sold short, which is 1.49% of all regular shares available for trading. It would take traders 2.94 days to cover their short positions on average. An increase in short interest can signal that investors have become more bearish. However, Intuit's peer group average for short interest as a percentage of float is 3.15%, which means the company has less short interest than most of its peers.
August 04, 2023 | 3:31 pm
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Intuit's short interest has increased, indicating a bearish sentiment among investors. However, compared to its peers, the company has less short interest.
The increase in short interest indicates that investors are expecting the price of Intuit's stock to fall. This bearish sentiment could put downward pressure on the stock price in the short term. However, the fact that Intuit has less short interest than its peers could mitigate this effect to some extent.
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