Looking Into Celestica's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Celestica's (NYSE:CLS) short interest has decreased by 4.83% since the last report, with 4.65 million shares sold short, representing 3.94% of its float. The current short interest suggests a bearish sentiment has lessened, taking 2.59 days on average to cover short positions. Compared to its peers, Celestica has a higher short interest percentage of float (3.94% vs. peer average of 2.51%), indicating more bearish sentiment among investors towards Celestica than its peers.
May 02, 2024 | 8:15 pm
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Celestica's short interest has decreased, indicating a potential decrease in bearish sentiment among investors. With a higher short interest than its peers, it suggests Celestica is under more scrutiny but also may have more potential for a short squeeze.
A decrease in short interest typically indicates that investors are less bearish on the stock, potentially leading to less downward pressure on the stock price in the short term. Given that Celestica's short interest is higher than its peers, it suggests that while there is more bearish sentiment compared to its peers, the decrease in short interest could lead to a positive price movement if the market sentiment continues to improve.
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