(ACN) - Analyzing Accenture's Short Interest
Portfolio Pulse from Benzinga Insights
Accenture (NYSE:ACN) has seen a 3.28% increase in short interest since its last report, with 7.88 million shares sold short, representing 1.26% of its float. It would take about 4.33 days to cover all short positions. While an increase in short interest can indicate bearish sentiment, it's not a definitive predictor of a stock's direction. Accenture's short interest is below its peer group average of 2.31%.
December 07, 2023 | 8:15 pm
News sentiment analysis
Sort by:
Descending
NEUTRAL IMPACT
Accenture's increased short interest suggests a bearish sentiment among traders, but it remains below the peer group average, indicating less bearish sentiment relative to its peers.
The rise in short interest may lead some investors to believe that the stock could face downward pressure. However, since the short interest is below the peer average, it does not necessarily indicate a strong bearish trend. The impact is likely to be neutral in the short term as the market digests this information.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 80