Peering Into Analog Devices's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Analog Devices (NYSE:ADI) has seen a 15.71% decrease in its short percent of float since its last report, with 5.88 million shares sold short, representing 1.18% of all regular shares available for trading. This suggests that traders are becoming less bearish on the stock. However, this does not necessarily mean that the stock price will rise in the near term. Compared to its peers, Analog Devices has less short interest, with the average for its peer group being 4.88%.
August 07, 2023 | 3:30 pm
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The decrease in short interest for Analog Devices suggests less bearish sentiment among traders, which could potentially stabilize the stock price. However, this does not guarantee a price increase in the near term.
Short interest is an indicator of market sentiment. A decrease in short interest suggests that traders are less bearish on the stock, which could potentially stabilize the stock price. However, this does not necessarily mean that the stock price will rise in the near term, as other factors could also influence the stock price.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100