(NOW) - Analyzing ServiceNow's Short Interest
Portfolio Pulse from Benzinga Insights
ServiceNow's (NYSE:NOW) short percent of float has risen 5.69% since its last report, with 2.65 million shares sold short, which is 1.3% of all regular shares available for trading. It would take traders 3.02 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 5.22%.
October 06, 2023 | 7:15 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
ServiceNow's short percent of float has increased, indicating a bearish sentiment among traders. However, it has less short interest than most of its peers.
An increase in short interest indicates that traders are expecting the price of the stock to fall. However, ServiceNow has less short interest than most of its peers, which could mean that the market sentiment towards the company is not as bearish as it is for its peers.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100