(NVO) - Analyzing Novo Nordisk's Short Interest
Portfolio Pulse from Benzinga Insights
Novo Nordisk's (NYSE:NVO) short percent of float has risen 45.45% since its last report, with 2.80 million shares sold short, which is 0.16% of all regular shares available for trading. This increase in short interest can act as an indicator of market sentiment towards a particular stock. However, compared to its peers, Novo Nordisk has less short interest as a percentage of float, which is 3.31% on average.
October 24, 2023 | 3:45 pm
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Novo Nordisk's short interest has increased, indicating a bearish market sentiment. However, it has less short interest compared to its peers, which could be a positive sign.
An increase in short interest usually indicates a bearish sentiment towards the stock. However, Novo Nordisk's short interest is less than its peers, which could mean that the market is less bearish on NVO compared to its peers. This could potentially limit the downside risk for the stock in the short term.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100