Peering Into Snowflake's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Snowflake Inc. (NYSE:SNOW) has experienced a 3.33% increase in short interest since its last report, with 9.86 million shares sold short, representing 3.1% of its float. The average time to cover these short positions is 1.71 days. While an increase in short interest can indicate bearish sentiment, it does not necessarily predict a near-term price decline. Snowflake's short interest is below its peer group average of 6.02%.
December 25, 2023 | 6:30 pm
News sentiment analysis
Sort by:
Ascending
NEUTRAL IMPACT
Snowflake's increased short interest may suggest bearish market sentiment, but it remains below the peer average, indicating a less negative outlook compared to its peers.
While the rise in short interest for Snowflake suggests that some investors are expecting the price to fall, the fact that it is below the peer average and the short interest is a relatively small percentage of the float suggests that the bearish sentiment is not overwhelming. Additionally, the article implies that an increase in short interest does not necessarily predict a near-term decline in stock price, which is why the score is neutral.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 100