Peering Into Automatic Data Processing's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Automatic Data Processing (ADP) has seen a 4.85% increase in short interest, with 7.06 million shares sold short, representing 1.73% of its float. This is lower than the peer group average of 6.63%. The rise in short interest may indicate bearish sentiment, but it doesn't guarantee a price drop.
October 24, 2024 | 5:45 pm
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NEUTRAL IMPACT
Automatic Data Processing's short interest has increased by 4.85%, with 7.06 million shares sold short, representing 1.73% of its float. This is below the peer average of 6.63%, indicating relatively lower bearish sentiment compared to peers.
The increase in short interest suggests a rise in bearish sentiment towards ADP, but since the short interest is still below the peer average, it indicates that the market sentiment is not as negative compared to its peers. This mixed signal results in a neutral short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100