Peering Into Fastenal's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Fastenal's (NYSE:FAST) short percent of float has risen 8.8% since its last report, with 15.49 million shares sold short, which is 3.09% of all regular shares available for trading. It would take traders 6.42 days to cover their short positions on average. Fastenal's peer group average for short interest as a percentage of float is 4.62%, which means the company has less short interest than most of its peers.

September 08, 2023 | 4:00 pm
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NEGATIVE IMPACT
Fastenal's short percent of float has risen 8.8% since its last report, indicating increased bearish sentiment. However, it has less short interest than most of its peers.
The increase in short percent of float indicates that more investors are betting against Fastenal, which could put downward pressure on the stock. However, the fact that Fastenal has less short interest than most of its peers could be a positive sign, as it suggests that investors are less bearish on Fastenal compared to other similar companies.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100