Peering Into Old Dominion Freight Line's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Old Dominion Freight Line (NYSE:ODFL) has seen a 6.2% decrease in short interest since the last report, with 2.22 million shares sold short, representing 2.27% of available shares. The average time to cover these short positions is 2.74 days. A decrease in short interest can indicate a more bullish sentiment towards the stock. Compared to its peers, ODFL has a lower short interest percentage of float, with the peer group average at 4.79%.
November 23, 2023 | 4:30 pm
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Old Dominion Freight Line's short interest has decreased, suggesting a more bullish sentiment among investors and potentially less downward pressure on the stock price in the short term.
The decrease in short interest for ODFL indicates that fewer investors are betting on the stock's decline, which could reduce selling pressure and potentially lead to a short-term increase in the stock price. However, short interest is just one of many factors that can affect stock prices, and the article does not suggest an immediate rise in the stock price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 100