Cadence Design Sys Unusual Options Activity For August 09
Portfolio Pulse from Benzinga Insights
A significant bearish stance has been observed in Cadence Design Sys (NASDAQ:CDNS) with 81% of investors opening trades with bearish expectations. Whales have been targeting a price range from $185.0 to $270.0 for Cadence Design Sys over the last 3 months. The price of CDNS is down -2.63% at $222.9. Keybanc, Rosenblatt, and Wells Fargo maintain their positive ratings on Cadence Design Sys with price targets of $270, $250, and $270 respectively. Needham downgraded its action to Buy with a price target of $235 while Stifel upgraded its action to Buy with a price target of $300.
August 09, 2023 | 3:31 pm
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NEGATIVE IMPACT
Bearish stance observed in Cadence Design Sys with 81% bearish trades. Whales target price range $185-$270. CDNS price down -2.63% at $222.9. Mixed analyst ratings with price targets ranging from $235-$300.
The bearish stance observed in Cadence Design Sys, with 81% of trades being bearish, indicates a negative sentiment towards the stock. This, coupled with the current price drop of -2.63%, could potentially lead to a further decrease in the stock price in the short term. However, the mixed analyst ratings and the targeted price range by whales could create some volatility in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100