How Is The Market Feeling About Fortinet?
Portfolio Pulse from Benzinga Insights
Fortinet (NYSE:FTNT) has seen a decrease in short interest, with the short percent of float dropping 11.44% since the last report. The company has 11.36 million shares sold short, representing 1.78% of available shares, with a cover time of 2.19 days. This decline in short interest may indicate a more bullish sentiment among investors compared to the peer group average short interest of 5.00%. However, this does not necessarily predict a near-term rise in stock price.
November 20, 2023 | 3:30 pm
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Fortinet's short interest has decreased, which may suggest a more bullish sentiment among investors. The short interest is below the peer group average, potentially indicating a positive outlook for the stock in the short term.
A decrease in short interest typically indicates that investors are less bearish on a stock, which could lead to a potential increase in its price in the short term. Since Fortinet's short interest is lower than its peers, this could be seen as a positive sign by the market. However, short interest is just one of many factors that can affect stock prices, and the article does not guarantee a near-term price rise.
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