Looking Into Root's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Root, Inc. (NYSE:ROOT) has seen a 13.46% increase in its short percent of float since the last report, reaching 15.09% of all shares available for trading. With 1.41 million shares sold short, it would take approximately 1.25 days for traders to cover their short positions. This rise in short interest indicates a more bearish market sentiment towards ROOT compared to its peers, where the average short interest as a percentage of float is 5.56%.
April 09, 2024 | 7:15 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Root, Inc. has experienced a significant increase in short interest, suggesting a bearish market sentiment towards the stock.
The increase in short interest for Root, Inc. indicates that a larger number of traders are betting against the stock, expecting its price to fall. This bearish sentiment, especially when compared to its peers, suggests a potential short-term negative impact on ROOT's stock price. The comparison with the peer group average of 5.56% highlights ROOT's significant deviation in market sentiment.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100