Peering Into AutoZone's Recent Short Interest
Portfolio Pulse from Benzinga Insights
AutoZone's (NYSE:AZO) short percent of float has risen 10.56% since its last report, with 360 thousand shares sold short, which is 1.99% of all regular shares available for trading. It would take traders 2.89 days to cover their short positions on average. An increase in short interest can signal that investors have become more bearish. AutoZone's peer group average for short interest as a percentage of float is 12.38%, which means the company has less short interest than most of its peers.
September 11, 2023 | 4:45 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
AutoZone's short percent of float has increased, indicating a potential bearish sentiment among investors. However, it has less short interest than most of its peers.
The increase in AutoZone's short percent of float indicates that more investors are betting on the stock's price to fall, which could put downward pressure on the stock price in the short term. However, the company's short interest is less than most of its peers, which could mitigate some of this pressure.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100