Looking Into Cadence Design Sys's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Cadence Design Sys's (NYSE:CDNS) short percent of float has risen 11.21% since its last report, with 2.43 million shares sold short, which is 1.19% of all regular shares available for trading. It would take traders 2.05 days to cover their short positions on average. The company has less short interest than most of its peers, with the peer group average for short interest as a percentage of float being 3.46%.
September 08, 2023 | 4:15 pm
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The rise in short interest in Cadence Design Sys's stock could indicate a bearish sentiment among investors. However, the company has less short interest than most of its peers, which could be a positive sign.
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. An increase in short interest can signal that investors have become more bearish, while a decrease can signal they have become more bullish. In this case, the rise in short interest in Cadence Design Sys's stock could indicate a bearish sentiment among investors. However, the fact that the company has less short interest than most of its peers could be a positive sign, indicating that investors are less bearish on Cadence Design Sys than on its peers.
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