How Is The Market Feeling About Fastenal?
Portfolio Pulse from Benzinga Insights
Fastenal's (NYSE:FAST) short percent of float has decreased by 5.31% since its last report, with 15.16 million shares sold short, representing 3.03% of all regular shares available for trading. This decrease in short interest could indicate a more bullish market sentiment towards Fastenal. Compared to its peers, Fastenal has less short interest as a percentage of float, with an average of 4.62%.
September 27, 2023 | 2:00 pm
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Fastenal's short percent of float has decreased, indicating a potential shift towards a more bullish market sentiment. The company's short interest is also lower than its peers' average.
A decrease in short interest often indicates a more bullish sentiment towards a stock, as it means fewer traders are betting on the stock's price to fall. This, combined with the fact that Fastenal's short interest is lower than its peers' average, could potentially lead to an increase in the stock's price in the short term.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100