Peering Into Cadence Design Sys's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Cadence Design Systems (CDNS) reported a decrease in short interest, with 2.75 million shares sold short, representing 1.34% of available shares. This marks a 4.96% decline in short interest since the last report. The current short interest is below the peer group average of 3.12%. Short interest is a measure of market sentiment, and a decrease suggests a more bullish outlook among investors.
February 09, 2024 | 2:00 pm
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Cadence Design Systems (CDNS) has seen a decrease in short interest, indicating a potentially more bullish sentiment among investors. This could suggest a short-term positive impact on the stock price.
A decrease in short interest typically indicates that investors are becoming more bullish on a stock. For CDNS, the decline to 1.34% of the float, which is below the peer average, suggests a positive sentiment that could lead to a short-term increase in stock price. The importance is rated at 70 due to the direct correlation between short interest levels and investor sentiment, while the confidence level is at 80, reflecting the clear data presented.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 90