How Is The Market Feeling About AutoZone?
Portfolio Pulse from Benzinga Insights
AutoZone (NYSE:AZO) has seen a 10% increase in short interest since its last report, with 520 thousand shares sold short, representing 3.3% of its float. It would take about 3.65 days to cover all short positions. While an increase in short interest can indicate bearish sentiment, AutoZone has less short interest compared to its peer group average of 13.35%. The rise in short interest doesn't necessarily predict a near-term price drop, but it suggests traders are more bearish on the stock.
November 30, 2023 | 7:30 pm
News sentiment analysis
Sort by:
Descending
NEUTRAL IMPACT
AutoZone's short interest has increased, which may indicate bearish sentiment among traders. However, its short interest is below the peer group average, suggesting less bearish sentiment relative to its peers.
The increase in short interest for AutoZone suggests that some investors are expecting the stock price to decline. However, since the short interest is lower than the peer average, it may not be a strong bearish signal. The impact on the stock price in the short term is uncertain, hence a neutral score is given.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100