Peering Into SPS Commerce's Recent Short Interest
Portfolio Pulse from Benzinga Insights
SPS Commerce (NYSE:SPSC) has seen a decrease in short interest, with the short percent of float falling 11.78% to 3.07%. This indicates fewer shares are being shorted, suggesting a potential shift in market sentiment towards the stock. The current short interest represents 817 thousand shares, requiring approximately 6.47 days for traders to cover their short positions. This change is notable compared to the peer group average of 6.73% short interest as a percentage of float, indicating SPS Commerce has less short interest than most of its peers.
February 05, 2024 | 8:15 pm
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The decrease in short interest for SPS Commerce suggests a potential positive shift in market sentiment towards the company's stock. With short interest now at 3.07% of the float and below the peer group average, this could indicate less bearish sentiment among investors.
A decrease in short interest typically indicates that fewer investors are betting against the stock, which can be a positive sign for the company's share price in the short term. Given that SPS Commerce's short interest is now significantly below the peer group average, this suggests a more bullish sentiment towards SPSC compared to its peers, potentially leading to positive price movement.
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IMPORTANCE 75
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