(CNC) - Analyzing Centene's Short Interest
Portfolio Pulse from Benzinga Insights
Centene's (NYSE:CNC) short percent of float has fallen 10.64% since its last report, with 5.91 million shares sold short, which is 1.26% of all regular shares available for trading. It would take traders 2.37 days to cover their short positions on average. The decrease in short interest can signal that investors have become more bullish. Centene's peer group average for short interest as a percentage of float is 3.15%, indicating the company has less short interest than most of its peers.
November 03, 2023 | 4:15 pm
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Centene's short percent of float has decreased, indicating a potential bullish sentiment among investors. The company has less short interest than most of its peers, which could be a positive sign for the stock.
A decrease in short interest can signal that investors have become more bullish on a stock. This is because short selling involves betting that a stock's price will fall. Therefore, a decrease in short interest could indicate that fewer investors are expecting the stock's price to fall. Additionally, Centene has less short interest than most of its peers, which could be a positive sign for the stock.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100