How Is The Market Feeling About Fortinet?
Portfolio Pulse from Benzinga Insights
Fortinet's (NYSE:FTNT) short percent of float has fallen 5.06% since its last report, indicating a decrease in bearish sentiment towards the stock. The company has 9.86 million shares sold short, which is 1.5% of all regular shares available for trading. Compared to its peers, Fortinet has less short interest as a percentage of float, which is 5.24% on average.
September 26, 2023 | 7:15 pm
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Decrease in short interest indicates less bearish sentiment towards Fortinet. This could potentially lead to a rise in stock price in the short term.
Short interest is a measure of market sentiment towards a particular stock. A decrease in short interest indicates that fewer investors are betting against the stock, which could potentially lead to a rise in stock price. Given that Fortinet's short interest is lower than its peers, it suggests that the market sentiment towards Fortinet is more positive compared to its peers.
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