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 fallen 3.36% since its last report, with 2.35 million shares sold short, which is 1.15% of all regular shares available for trading. It would take traders 1.93 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 3.31%.
September 25, 2023 | 3:15 pm
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POSITIVE IMPACT
The decrease in short interest in Cadence Design Sys could indicate a more bullish sentiment among investors, potentially leading to a positive impact on the stock price in the short term.
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. A decrease in short interest can signal that investors have become more bullish, which could potentially lead to a rise in the stock price. Given that Cadence Design Sys's short interest has decreased, this could indicate a more bullish sentiment among investors, potentially leading to a positive impact on the stock price in the short term.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100