Looking Into ON Semiconductor's Recent Short Interest
Portfolio Pulse from Benzinga Insights
ON Semiconductor's (NYSE:ON) short percent of float has fallen 11.66% since its last report, with 25.78 million shares sold short, which is 9.02% of all regular shares available for trading. It would take traders 3.41 days to cover their short positions on average. The company's short interest is higher than its peer group average of 4.15%.
August 23, 2023 | 7:45 pm
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NEUTRAL IMPACT
ON Semiconductor's short interest has decreased, indicating a potentially more bullish market sentiment towards the stock. However, its short interest is still higher than its peer group average.
A decrease in short interest can indicate a more bullish sentiment towards a stock, as it means fewer traders are betting on the stock's price to fall. However, ON Semiconductor's short interest is still higher than its peer group average, which could indicate that the market is still somewhat bearish on the stock. Therefore, the impact on the stock's price in the short term is uncertain.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100