Looking Into Thermo Fisher Scientific's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Thermo Fisher Scientific (NYSE:TMO) has seen a 7.14% decrease in short interest since its last report, with 2.50 million shares sold short, representing 0.65% of its float. The average time to cover these short positions is 1.51 days. A decrease in short interest can indicate a more bullish sentiment towards the stock. Compared to its peers, TMO has a lower short interest as a percentage of float, with the peer group average at 5.81%.
December 14, 2023 | 8:15 pm
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Thermo Fisher Scientific's short interest has decreased, which may suggest a more bullish sentiment among investors. The company's short interest is below the peer group average, potentially indicating a positive outlook compared to its competitors.
The decrease in short interest for TMO suggests that investors are less bearish on the stock, which could lead to a short-term increase in its price. The fact that TMO's short interest is significantly lower than its peer group average further supports the potential for a positive price movement. However, the article also cautions that a decrease in short interest does not necessarily mean the stock price will rise, which is why the importance is not set at the maximum level.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100