The short interest on Cassava Sciences (SAVA) stock is 17.16 million shares. This figure indicates the total number of SAVA shares that have been sold short but not yet repurchased to close out the position.
Understanding SAVA's Short Interest Metrics
Short interest provides valuable insight into investor sentiment, particularly the bearish outlook of some market participants. When the short interest is high, it suggests a significant number of investors are betting against the stock's future performance.
Below is a detailed breakdown of Cassava Sciences' recent short interest data:
| Metric | Value | Interpretation |
|---|---|---|
| Current Short Interest | 17.16 million shares | The total number of SAVA shares currently held in short positions. |
| Change from Prior Month | -5.09% decrease | Short interest has slightly declined compared to the previous month, suggesting some short covering or reduced bearish bets. |
| Short Interest Ratio (Days to Cover) | 3.5 days | It would take approximately 3.5 trading days for all short sellers to cover their positions, based on average daily trading volume. |
| Average Trading Volume | 2.60 million shares | The typical daily volume of SAVA shares traded, which is a factor in calculating the days to cover. |
The short interest ratio, also known as "days to cover," is a crucial metric. A lower number of days to cover (like 3.5 days for SAVA) implies that short positions could be covered relatively quickly. However, a sudden surge in buying pressure could still lead to a "short squeeze" if short sellers rush to buy back shares to limit potential losses.
Investors monitor these metrics closely to gauge market sentiment and potential volatility for a stock like Cassava Sciences. Reliable financial data platforms provide current short interest data for various stocks, allowing investors to stay informed about these key indicators.
