(ADP) - Analyzing Automatic Data Processing's Short Interest
Portfolio Pulse from Benzinga Insights
Automatic Data Processing (NYSE:ADP) has seen a 4.85% increase in short interest since the last report, with 4.44 million shares sold short, representing 1.08% of available shares. It would take about 2.56 days to cover all short positions. While an increase in short interest can indicate bearish sentiment, ADP's short interest is below its peer group average of 6.00%. The rise in short interest does not necessarily predict a near-term price drop.
December 05, 2023 | 8:30 pm
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ADP's short interest has increased, which could indicate bearish sentiment, but it remains below the peer average, suggesting less negative sentiment compared to peers.
The increase in short interest for ADP suggests that some investors are expecting the price to fall, which could be a bearish signal. However, since the short interest is lower than the peer average, it does not strongly indicate a widespread negative outlook. The impact on the stock price is uncertain, hence a neutral score is given.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 100