(CDNS) - Analyzing Cadence Design Sys's Short Interest
Portfolio Pulse from Benzinga Insights
Cadence Design Systems (NYSE:CDNS) has seen a 6.82% increase in short interest since its last report, with 2.88 million shares sold short, representing 1.41% of available shares. The short interest ratio is 1.61 days to cover. While an increase in short interest can indicate bearish sentiment, it doesn't necessarily predict a price drop. CDNS has less short interest compared to its peer group average of 3.53%.
January 08, 2024 | 1:00 pm
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Cadence Design Systems' short interest has increased, which may suggest bearish market sentiment but is still below the peer group average.
An increase in short interest can be a bearish indicator, but it's not a definitive predictor of stock price movement. CDNS's short interest is below the peer average, which could mitigate concerns. The short interest ratio indicates that it would not take long for short positions to be covered, suggesting that any potential price impact may be limited.
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IMPORTANCE 60
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