Peering Into Veeva Systems's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Veeva Systems (NYSE:VEEV) has seen a decrease in short interest, with the short percent of float falling 5.67% since the last report, now standing at 1.33% of all shares available for trading. The current short interest represents 2.12 million shares, and based on trading volume, it would take about 2.53 days on average for traders to cover their short positions. This decline in short interest could indicate a more bullish sentiment towards VEEV compared to its peers, where the average short interest as a percentage of float is 4.98%.
March 28, 2024 | 1:15 pm
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Veeva Systems has experienced a decrease in short interest, suggesting a potentially more bullish market sentiment towards the stock. The short interest now stands at 1.33% of the float, with 2.12 million shares shorted.
A decrease in short interest typically indicates that investors are becoming more bullish on a stock. For Veeva Systems, the reduction in short interest to 1.33% of the float, which is below the peer group average, suggests that market sentiment is becoming more favorable towards VEEV. This could lead to a short-term positive impact on the stock price as it reflects increased investor confidence and potentially less selling pressure from short sellers.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100