(LAZR) - Analyzing Luminar Technologies's Short Interest
Portfolio Pulse from Benzinga Insights
Luminar Technologies (NYSE:LAZR) has seen a 10.73% decrease in short interest, now at 27.03% of float with 79.90 million shares shorted. It takes traders approximately 10.59 days to cover these positions. This change may indicate shifting market sentiment towards LAZR, as short interest can reflect investor outlook. LAZR's short interest is significantly higher than its peer group average of 7.27%, suggesting more bearish sentiment compared to its peers.
February 23, 2024 | 2:30 pm
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Luminar Technologies has experienced a significant decrease in short interest, suggesting a potential shift in market sentiment towards the stock.
A decrease in short interest typically indicates that investors are becoming more bullish on a stock. For LAZR, this could mean a short-term positive impact on its stock price as the market sentiment appears to be shifting. However, the high percentage of short interest compared to peers suggests caution, as it indicates a generally bearish sentiment that still exists among investors.
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