Peering Into Cardinal Health's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Cardinal Health (NYSE:CAH) has seen a 3.31% increase in short interest since the last report, with 6.93 million shares sold short, representing 3.74% of available shares. It would take about 3.77 days to cover all short positions. While an increase in short interest can indicate bearish sentiment, it does not necessarily predict a near-term price drop. Compared to its peers, Cardinal Health has a lower short interest percentage of float, with the peer group average at 4.79%.
November 15, 2023 | 8:15 pm
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Cardinal Health has experienced an increase in short interest, which may suggest bearish market sentiment but does not necessarily forecast a price decline. The company's short interest is below the peer group average.
The increase in short interest for Cardinal Health indicates that investors may be expecting the stock price to decline. However, since the short interest is below the peer average, it suggests that the market sentiment is not as bearish as it could be for similar companies. The impact on the stock price is uncertain, as short interest is just one of many factors that can affect stock prices in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 100