(NVO) - Analyzing Novo Nordisk's Short Interest
Portfolio Pulse from Benzinga Insights
Novo Nordisk's (NYSE:NVO) short percent of float has risen 100.0% since its last report, with 2.05 million shares sold short, which is 0.12% of all regular shares available for trading. It would take traders 1.0 days to cover their short positions on average. The company's short interest is less than its peer group average of 4.55%.
August 25, 2023 | 8:00 pm
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Novo Nordisk's short interest has risen significantly, indicating a bearish sentiment among traders. However, its short interest is less than its peer group average.
The rise in short interest indicates that more traders are betting that Novo Nordisk's stock price will fall. However, the company's short interest is less than its peer group average, which could mean that it is performing better than its peers in the eyes of traders.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100