Peering Into Zoetis's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Zoetis (NYSE:ZTS) has seen a 9.59% increase in short interest since its last report, with 3.68 million shares sold short, representing 0.8% of available shares. The short interest ratio is 1.78 days to cover. While an increase in short interest can indicate bearish sentiment, Zoetis has less short interest compared to its peer group average of 4.37%. The rise in short interest does not necessarily predict a near-term price drop.
December 29, 2023 | 8:00 pm
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Zoetis has experienced an increase in short interest, which could indicate bearish sentiment among investors. However, its short interest is below the peer group average, suggesting less negative sentiment relative to its peers.
While the increase in short interest for Zoetis suggests that some investors are expecting the stock price to decline, the fact that it is below the peer average could mitigate the bearish outlook. The short interest ratio indicates that it would not take long for short positions to be covered, which could limit downward pressure on the stock price. Therefore, the short-term impact on Zoetis's stock is likely to be neutral.
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