Naas Technology’s NAAS short float percentage has decreased by 16.46% since the last report. The company recently reported short selling 71,000 shares, which represents 0.66% of all available common shares. Based on the company’s trading volume, it takes traders an average of 1.0 days to liquidate their short positions.
Why short selling is important
Short interest is the number of shares that have been sold short but not yet covered or settled. Short selling occurs when a trader sells shares of a company that they do not own in the hope that the price will fall. Traders make a profit from shorting if the stock price falls and lose money if the stock price rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can indicate that investors are becoming more bearish, while a decrease in short interest can indicate that investors are becoming more bullish.
See also: List of most shorted stocks
Naas Technology Short Interest Chart (3 Months)
As can be seen from the chart above, the percentage of Naas Technology shares shorted has decreased since the last report: This doesn’t mean the share price will rise in the short term, but traders should be aware that fewer shares are being sold short.
Naas Technology’s short interest balance compared to its peers
Peer comparisons are a common way analysts and investors gauge a company’s performance. A company’s peers are other companies that have similar characteristics to the company, such as industry, size, history, or financial structure. You can find a company’s peer group by reading a company’s 10-K or proxy statement, or by conducting your own similarity analysis.
According to Benzinga Pro, Naas Technology’s peer group average short interest is 13.04% of shares outstanding, meaning the company’s short interest is lower than most of its peers.
Did you know that rising short interest can actually be a bullish sign for a stock? This post from Benzinga Money explains how you can profit from short interest.
This article was generated by Benzinga’s automated content engine and has been reviewed by an editor.
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