Peering Into Fortinet's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Fortinet's (NYSE:FTNT) short percent of float has fallen 12.0% since its last report, with 8.68 million shares sold short, which is 1.32% of all regular shares available for trading. This decrease in short interest could indicate a more bullish market sentiment towards the stock. However, it does not necessarily mean that the stock price will rise in the near term. Compared to its peers, Fortinet has less short interest as a percentage of float, with an average of 5.22%.
October 12, 2023 | 3:30 pm
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The decrease in short interest in Fortinet could indicate a more bullish sentiment towards the stock. However, this does not guarantee a rise in 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. However, this does not necessarily mean that the stock price will rise in the near term. It's also worth noting that compared to its peers, Fortinet has less short interest as a percentage of float.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100