Peering Into Analog Devices's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Analog Devices (NYSE:ADI) has seen a decrease in short interest, with the short percent of float falling 3.6% to 1.34% of all shares available for trading. The current short interest stands at 6.63 million shares, requiring approximately 1.77 days for traders to cover their short positions. This decline in short interest may indicate a more bullish sentiment towards ADI among investors, especially when compared to its peers, where the average short interest as a percentage of float is 4.05%.
March 13, 2024 | 8:15 pm
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Analog Devices's short interest has decreased, indicating a potential bullish sentiment among investors. With short interest now at 1.34% of the float, it's below the peer average, suggesting ADI may be viewed more favorably than its competitors.
The decrease in short interest for ADI suggests that investors are becoming more bullish on the stock. This is further supported by the fact that ADI's short interest is below the peer group average, indicating a relatively favorable view of the company compared to its competitors. The reduction in short interest could lead to a short-term positive impact on ADI's stock price as it reflects a shift in market sentiment.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 90