Looking Into Kenvue's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Kenvue (NYSE:KVUE) has seen a decrease in short interest, with the short percent of float dropping by 5.16% since the last report. The company has 35.03 million shares sold short, representing 17.63% of its float. The average time to cover these short positions is 2.37 days. Short interest is a measure of market sentiment, and a decrease may indicate a more bullish outlook. Kenvue's short interest is higher than its peer group average of 7.12%.
November 29, 2023 | 5:30 pm
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Kenvue's short interest has decreased, which could be a sign of increasing bullish sentiment among investors. However, the stock still has a higher short interest compared to its peers, which could indicate some skepticism about the company's prospects.
A decrease in short interest typically suggests that investors are less bearish on the stock, which could lead to a short-term price increase. However, the fact that Kenvue's short interest is still high relative to its peers means there is still a significant level of skepticism in the market. The impact score is positive, reflecting the potential for a bullish sentiment to drive the price up in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100