(NET) - Analyzing Cloudflare's Short Interest
Portfolio Pulse from Benzinga Insights
Cloudflare (NYSE:NET) has seen a decrease in short interest, with the short percent of float dropping 16.15% since the last report. The company has 15.56 million shares sold short, representing 5.92% of available shares for trading. The average time to cover these short positions is 4.34 days. Short interest is a measure of market sentiment, and a decrease suggests investors may be more bullish on the stock. Cloudflare's short interest is slightly below its peer group average of 5.99%. The article suggests that a decrease in short interest does not necessarily predict a near-term rise in stock price.
January 05, 2024 | 1:00 pm
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Cloudflare's short interest has decreased, which may indicate a more bullish sentiment from investors. The company's short interest is below the peer group average, suggesting a relatively positive outlook compared to its peers.
A decrease in short interest typically suggests that investors are less bearish on a stock, which could lead to a short-term increase in its price. However, the article cautions that this does not guarantee a near-term price rise. Cloudflare's short interest being below the peer average further supports a potentially positive outlook, but the impact on the stock price in the short term should be considered with moderate confidence due to the caution advised in the article.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100