How Is The Market Feeling About Cadence Design Sys?
Portfolio Pulse from Benzinga Insights
Cadence Design Systems (NYSE:CDNS) has seen a decrease in short interest, with the short percent of float dropping 9.59% since the last report. The company has 2.70 million shares sold short, which is 1.32% of available shares for trading. The average time to cover these short positions is 2.38 days. A decrease in short interest can indicate a more bullish sentiment towards the stock. Cadence has a lower short interest compared to its peer group average of 3.34%.
December 18, 2023 | 5:30 pm
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Cadence Design Systems has experienced a decrease in short interest, which may suggest a more bullish sentiment among investors and could lead to a potential short-term increase in stock price.
A decrease in short interest typically indicates that investors are less bearish on the stock, which could lead to an increase in stock price as short sellers cover their positions. However, the article also cautions that this does not necessarily mean the stock will rise in the near term.
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