(ADSK) - Analyzing Autodesk's Short Interest
Portfolio Pulse from Benzinga Insights
Autodesk's (ADSK) short interest has increased by 11.41% since the last report, with 3.55 million shares sold short, representing 1.66% of its float. It would take approximately 2.93 days to cover these short positions. This rise in short interest can indicate a bearish market sentiment towards ADSK, although it has less short interest compared to its peer group average of 3.05%. The increase in short interest doesn't necessarily predict a price drop but suggests traders are betting more on its decline.
February 13, 2024 | 5:30 pm
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Autodesk's short interest has risen, indicating a potentially bearish sentiment but still below peer average.
The increase in short interest for Autodesk suggests that more traders are betting on its price to decline, which can be seen as a bearish signal for the stock. However, the fact that Autodesk's short interest is below its peer group average might mitigate the negative impact slightly. The short-term impact is likely negative due to the increased bearish sentiment, but the below-average short interest compared to peers provides a nuanced view.
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