How Is The Market Feeling About Lumentum Holdings?
Portfolio Pulse from Benzinga Insights
Lumentum Holdings (NYSE:LITE) has seen a decrease in short interest, with 10.06 million shares sold short, representing 19.03% of its float. This is a decline of 4.28% from its last report, indicating a potential shift in market sentiment towards the stock. The current short interest suggests a more bullish outlook, as it takes traders approximately 6.51 days to cover their short positions. Lumentum's short interest is significantly higher than its peer group average of 8.09%, highlighting its unique position in the market.
April 05, 2024 | 6:30 pm
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Lumentum Holdings has experienced a decrease in short interest, indicating a potential bullish sentiment shift among investors. With a significant portion of its float sold short, the stock's performance is closely watched.
The decrease in short interest for Lumentum Holdings suggests that investors are becoming more optimistic about the stock's future performance. Given that short interest is a contrarian indicator, this decrease could lead to a short-term price increase as market sentiment shifts. Additionally, with a higher short interest compared to its peers, Lumentum Holdings stands out as a company that may see more significant price movements related to changes in short interest.
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