Looking Into e.l.f. Beauty's Recent Short Interest
Portfolio Pulse from Benzinga Insights
e.l.f. Beauty's (NYSE:ELF) short interest has increased by 22.49% since the last report, with 3.37 million shares sold short, representing 8.66% of its float. This indicates a bearish market sentiment compared to its peers, where the average short interest as a percentage of float is 6.48%. However, an increase in short interest does not necessarily predict a decline in stock price in the near term.
May 08, 2024 | 2:30 pm
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NEUTRAL IMPACT
e.l.f. Beauty's short interest has significantly increased, indicating a bearish sentiment among investors. However, this does not necessarily predict a near-term price decline.
While the increase in short interest for e.l.f. Beauty suggests that investors are bearish, it's important to note that high short interest can sometimes lead to a short squeeze, potentially driving the price up if the stock moves contrary to bearish expectations. The impact on the stock price in the short term is uncertain, hence the neutral score.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100