Peering Into Automatic Data Processing's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Automatic Data Processing (NYSE:ADP) has seen a 3.45% increase in short interest since its last report, with 3.70 million shares sold short, representing 0.9% of its float. It would take about 2.36 days to cover all short positions. While an increase in short interest can indicate bearish sentiment, it doesn't necessarily predict a near-term price drop. ADP's short interest is below its peer group average of 5.59%.
January 29, 2024 | 2:15 pm
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ADP's short interest has increased, which may indicate bearish sentiment among investors. However, with short interest still below the peer average, the impact may be limited.
The increase in short interest for ADP suggests that some investors are expecting the price to fall, which could lead to negative sentiment in the short term. However, since the short interest is relatively low compared to its peers, the overall market sentiment might not be as bearish, and the impact on the stock price may be neutral in the short term.
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