Peering Into Automatic Data Processing's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Automatic Data Processing (NYSE:ADP) has seen a 17.59% decrease in short interest since its last report, with 3.67 million shares sold short, representing 0.89% of its float. The average time to cover these short positions is 2.2 days. A decrease in short interest can indicate a more bullish sentiment towards the stock. ADP's short interest is below its peer group average of 5.78%.
December 22, 2023 | 4:15 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
ADP's short interest has decreased, which may suggest a more bullish sentiment among investors and could potentially lead to a 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 a short-term increase in its price as the market sentiment improves. However, short interest is just one of many factors that can affect stock prices, so while the decrease is a positive sign, it should be considered within the broader market context.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 100