How Is The Market Feeling About Fortinet?
Portfolio Pulse from Benzinga Insights
Fortinet (NYSE:FTNT) has seen a 6.08% increase in short interest since its last report, with 12.31 million shares sold short, representing 1.92% of available shares. The short interest is below the peer group average of 4.67%. While an increase in short interest can indicate bearish sentiment, it does not necessarily predict a near-term price drop.
December 12, 2023 | 5:30 pm
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Fortinet's short interest has increased, which may suggest bearish market sentiment, but it remains below the peer average, indicating less bearish sentiment compared to its peers.
The increase in short interest for Fortinet suggests that some investors are expecting the stock price to decline. However, since the short interest is below the peer group average, it does not strongly indicate a significant bearish trend compared to its peers. The impact on the stock price in the short term is likely to be neutral, as the article does not provide any definitive evidence that the stock will move in either direction based solely on the short interest data.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 80