(RMD) - Analyzing ResMed's Short Interest
Portfolio Pulse from Benzinga Insights
ResMed (NYSE:RMD) has seen a decrease in short interest, with the current level at 5.85 million shares or 4.54% of float, down 7.16% from the last report. It would take about 5.67 days to cover all short positions. While a decrease in short interest can indicate a more bullish sentiment, it does not necessarily predict a near-term price rise. ResMed's short interest is higher than its peer group average of 3.38%.
December 22, 2023 | 1:00 pm
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ResMed's short interest has decreased, suggesting a potential increase in bullish sentiment among investors. However, this is not a definitive indicator of an imminent price rise.
A decrease in short interest typically indicates that investors are less bearish on a stock, which could lead to a potential increase in its price. However, the impact on the stock price is not guaranteed and depends on broader market conditions and company performance. ResMed's short interest is still higher than its peers, which could be a point of concern for some investors.
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