Peering Into Cadence Design Sys's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Cadence Design Systems (NYSE:CDNS) has seen a 7.75% decrease in short interest, with 2.44 million shares sold short, representing 1.19% of available shares. The average time to cover these short positions is 1.6 days. A decrease in short interest can indicate a more bullish sentiment towards the stock. Compared to its peers, CDNS has a lower short interest as a percentage of float, with the peer group average at 3.39%.
November 14, 2023 | 5:30 pm
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Cadence Design Systems has experienced a decrease in short interest, which may suggest a more bullish sentiment among investors and could lead to a potential short-term increase in stock price.
The reduction in short interest for Cadence Design Systems indicates that fewer investors are betting on the stock price to fall, which could be taken as a positive sign by the market. This could lead to a short-term increase in the stock price as investor sentiment shifts. However, short interest is just one of many factors that can affect stock prices, so while the news is positive, it should be considered as part of a broader investment analysis.
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