Peering Into Automatic Data Processing's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Automatic Data Processing (NYSE:ADP) has seen a 22.34% increase in its short percent of float since the last report, with 4.71 million shares sold short, representing 1.15% of available shares. It would take about 3.05 days to cover these short positions. The rise in short interest can indicate a bearish market sentiment towards ADP, although it has less short interest compared to its peers' average of 5.66%. This information suggests investors are showing increased bearishness but ADP still fares better than most of its peers in terms of short interest.
March 27, 2024 | 7:00 pm
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ADP's short interest has increased, indicating a bearish sentiment among investors. However, it's still better positioned than its peers.
The increase in short interest for ADP suggests that investors are becoming more bearish on the stock. However, the fact that ADP has a lower short interest compared to its peer average indicates that it may be in a relatively stronger position. The short-term impact is likely negative due to the increased bearish sentiment, but ADP's better standing compared to peers could mitigate some of the negative impact.
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