Peering Into ON Semiconductor's Recent Short Interest
Portfolio Pulse from Benzinga Insights
ON Semiconductor (NYSE:ON) has seen a 16.77% decrease in short interest, now at 19.43 million shares or 6.9% of float, taking 2.18 days on average to cover. This decline in short interest could indicate a more bullish sentiment towards ON compared to its peers, where the average short interest is 3.25% of float.
February 20, 2024 | 1:30 pm
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ON Semiconductor's short interest has decreased significantly, indicating a potential bullish sentiment among investors.
A decrease in short interest typically suggests that investors are becoming more optimistic about a stock's future performance. For ON Semiconductor, this decrease is substantial and could indicate a shift in market sentiment towards a more positive outlook, especially when compared to its peers.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 90