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 fallen 3.6% since its last report, with 2.18 million shares sold short, which is 1.07% of all regular shares available for trading. This decrease in short interest could signal a more bullish sentiment towards the stock. However, it does not necessarily mean that the stock price will rise in the near term. Compared to its peers, Cadence has less short interest as a percentage of float, with an average of 3.21%.
August 21, 2023 | 3:15 pm
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The decrease in short interest in Cadence Design Sys could indicate a more bullish sentiment among investors. However, this does not guarantee a rise in the stock's price in the near term.
Short interest is an indicator of market sentiment towards a stock. A decrease in short interest could mean that investors are becoming more bullish, i.e., they expect the stock price to rise. However, this is not a guarantee and other factors could influence the stock price. Compared to its peers, Cadence has less short interest, which could be seen as a positive sign by some investors.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100