(ADSK) - Analyzing Autodesk's Short Interest
Portfolio Pulse from Benzinga Insights
Autodesk's (NYSE:ADSK) short interest has increased by 12.87% since the last report, with 2.43 million shares sold short, representing 1.14% of available shares. It would take 2.23 days to cover these short positions based on current trading volume. While an increase in short interest can indicate bearish sentiment, it does not necessarily predict a near-term price drop. Autodesk has less short interest compared to its peer group average of 3.36%.
November 28, 2023 | 8:00 pm
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NEUTRAL IMPACT
Autodesk's short interest has risen, indicating potential bearish sentiment among investors. However, with short interest below the peer group average, the impact may be muted.
While the increase in short interest for Autodesk suggests that some investors are expecting the price to fall, the fact that it is below the peer group average and the article suggests this doesn't necessarily predict a near-term price drop, leads to a neutral score. The relevance is high as the article is directly about Autodesk's short interest, but the importance is moderate because short interest is just one of many factors that can affect stock price. The confidence level is set at 70 due to the uncertainty of market reactions to changes in short interest.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 80