Looking Into NetApp's Recent Short Interest
Portfolio Pulse from Benzinga Insights
NetApp's short interest has increased by 23.53%, with 6.27 million shares sold short, representing 3.99% of its float. This is below the peer group average of 8.05%. The rise in short interest suggests bearish sentiment, but it doesn't guarantee a price drop.
September 11, 2024 | 8:15 pm
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
NetApp's short interest has increased significantly, indicating a rise in bearish sentiment. However, its short interest is still below the peer average, suggesting relatively less pessimism compared to peers.
The increase in short interest by 23.53% suggests that traders are more bearish on NetApp. However, since its short interest is below the peer average, it indicates that the market sentiment is less negative compared to its peers. This could lead to short-term downward pressure on the stock price, but it is not definitive.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100