Peering Into Zscaler's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Zscaler's (NYSE:ZS) short interest has decreased by 6.38% since the last report, with 5.59 million shares sold short, representing 6.16% of available shares. The average time to cover these short positions is 2.53 days. Short interest is a market sentiment indicator, and Zscaler's short interest is higher than its peer group average of 4.44%. A decline in short interest suggests that investors may be becoming more bullish on the stock.
January 03, 2024 | 2:00 pm
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Zscaler's short interest has decreased, which may indicate a more bullish sentiment among investors and could lead to a potential short-term increase in stock price.
A decrease in short interest typically suggests that investors are less bearish on a stock, which can lead to an increase in its price as short sellers cover their positions. However, the article also cautions that this does not necessarily mean the stock will rise in the near term, hence the importance is significant but not critical.
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