The software company will join the S&P MidCap 400 in January
UiPath Inc. (NYSE:PATH) shares are up 5.6% to trade at $16.81 at last check, following news the software company will join the S&P MidCap 400 before the open on Thursday, Jan. 2. UiPath will replace Synovous Financial (SNV), which is being acquired by Pinnacle Financial Partners (PFNP).
The equity is enjoying support at the $16 level, which contained a pullback from its Dec. 8 year-to-date high of $19.84. PATH boasts a 36% lead for 2025, and has added 54% in the last nine months.
Short interest remains elevated, accounting for 11.5% of PATH's total available float, after adding 15.3% in the last two weeks. The brokerage bunch is skeptical, too, with 18 of 19 firms in coverage carrying a "hold" or worse rating.
It's also worth noting that short-term options traders have been more bearish than usual. This is per the stocks Schaeffer's put/call open interest ratio (SOIR) that sits at the bottom of annual readings.
Today's options pits paint a different picture. So far, 70,000 calls have already crossed the tape -- double the intraday average volume -- compared to only 10,000 puts. The January 16, 2026 20-strike call is the most popular contract.