Looking Into Fortinet's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Fortinet's (NYSE:FTNT) short percent of float has risen 13.56% since its last report, with 13.23 million shares sold short, which is 2.01% of all regular shares available for trading. An increase in short interest can indicate a bearish market sentiment towards a stock. However, Fortinet's short interest as a percentage of float is less than its peer group average of 4.85%.
November 02, 2023 | 4:45 pm
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Fortinet's short interest has increased, indicating a bearish sentiment. However, it's less than its peer group average.
The increase in short interest indicates that traders are expecting the price of Fortinet's stock to fall. However, the fact that Fortinet's short interest as a percentage of float is less than its peer group average could mean that the bearish sentiment is not as strong as it is for other similar companies.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100