Peering Into Palo Alto Networks's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Palo Alto Networks (NYSE:PANW) has seen a 10.77% decrease in short interest, with 18.08 million shares sold short, representing 5.88% of its float. The average time to cover these short positions is 6.56 days. Short interest is a market sentiment indicator, and a decrease suggests investors may be more bullish on PANW. However, PANW's short interest is still higher than its peer group average of 4.83%. The change in short interest does not necessarily predict a near-term price rise.
November 15, 2023 | 6:30 pm
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Palo Alto Networks's short interest has decreased, which may indicate a more bullish sentiment among investors. However, the stock's short interest remains above the peer group average.
A decrease in short interest typically suggests that investors are less bearish on a stock, which could lead to a short-term price increase. However, since PANW's short interest is higher than its peers, there may be some caution in the market. The score reflects a cautiously optimistic outlook.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 80