Peering Into Autodesk's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Autodesk (NYSE:ADSK) has seen a 7.89% increase in short interest since its last report, with 2.63 million shares sold short, representing 1.23% of its float. It would take about 1.34 days to cover all short positions. While an increase in short interest can indicate bearish sentiment, Autodesk has less short interest compared to its peer group average of 3.34%. This information suggests investors should monitor the stock, but it does not necessarily predict a price drop.
December 25, 2023 | 1:00 pm
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Autodesk's short interest has increased, which could indicate bearish sentiment among traders. However, its short interest is still below the peer group average, suggesting less negative sentiment compared to its peers.
The increase in short interest may suggest that some investors are expecting the price of Autodesk's stock to decline. However, since the short interest is below the peer average, it does not strongly indicate a widespread bearish sentiment. The short-term impact on the stock price is uncertain, as short interest is just one of many factors that can affect stock prices.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 80