Peering Into Centene's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Centene Corporation (NYSE:CNC) has seen a 16.56% increase in its short percent of float since the last report, with 8.25 million shares sold short, representing 1.76% of its available shares for trading. It would take about 2.84 days to cover these short positions based on current trading volume. This rise in short interest indicates a more bearish market sentiment towards CNC, although it's not a definitive predictor of stock price movement. Compared to its peers, CNC has a lower short interest percentage of float, with an average of 4.13% among its peers.
March 26, 2024 | 4:00 pm
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Centene Corporation has experienced a significant increase in short interest, indicating a bearish market sentiment. However, its short interest is still lower than the peer group average.
The increase in short interest suggests that investors are more bearish on CNC, potentially leading to downward pressure on the stock price in the short term. However, being below the peer average might mitigate some negative perceptions.
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IMPORTANCE 75
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