(PSTG) - Analyzing Pure Storage's Short Interest
Portfolio Pulse from Benzinga Insights
Pure Storage (NYSE:PSTG) has seen a decrease in short interest, now at 3.77% of its float, down 13.53% from the last report. With 9.69 million shares sold short, it would take about 3.16 days to cover all short positions. This decline in short interest could indicate a more bullish sentiment towards PSTG among investors. Compared to its peers, PSTG has a lower short interest percentage, with the average for its peer group at 6.65%.
March 08, 2024 | 5:30 pm
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Pure Storage's short interest has decreased, suggesting a potential increase in bullish sentiment among investors.
A decrease in short interest typically indicates that investors are becoming more optimistic about a company's future performance. For PSTG, this reduction in short interest could lead to a short-term positive impact on its stock price as it suggests a decrease in bearish sentiment. Additionally, being below its peer group average in short interest further strengthens the potential for a positive outlook among investors.
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