Peering Into Automatic Data Processing's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Automatic Data Processing (NYSE:ADP) has seen a 6.36% increase in its short percent of float, now at 1.17% of all regular shares available for trading. This indicates a rise in bearish sentiment among investors. However, ADP's short interest is still lower than its peer group average of 6.13%.
July 15, 2024 | 3:15 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Automatic Data Processing (NYSE:ADP) has experienced a 6.36% increase in short interest, now at 1.17% of its float. This suggests a rise in bearish sentiment, although its short interest remains lower than the peer group average of 6.13%.
The increase in short interest indicates a rise in bearish sentiment among investors, which could put downward pressure on ADP's stock price in the short term. However, the short interest is still lower than the peer group average, which may mitigate some of the negative impact.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100