Short Sellers Pile Into Cybersecurity Stocks
The April 29 short interest data have been compared with the previous figures, and short interest for the selected cybersecurity stocks increased.
[cnxvideo id=”508130″ placement=”ros”]Cybersecurity has become an increasingly important issue that companies have to address as they continue to develop new platforms and mobile apps. Hackers have been able to steal credit card and personal information from major retailers like Home Depot and Target. As a result, cybersecurity has become more necessary, and instead of developing a dedicated department within a company, most opt to hire a third-party cybersecurity firm.
The April 29 short interest data have been compared with the previous figures, and short interest for the selected cybersecurity stocks increased.
FireEye Inc. (NASDAQ: FEYE) saw its short interest increase to 16.60 million shares from the previous reading of 14.77 million. Shares closed Tuesday at $13.39, in a 52-week trading range of $11.35 to $55.33.
CyberArk Software Ltd. (NASDAQ: CYBR) saw its short interest fall to 1.70 million shares from the previous level of 1.91 million. Shares closed Tuesday at $41.40, within a 52-week range of $31.50 to $76.35.
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Check Point Software Technologies Ltd. (NASDAQ: CHKP) short interest increased to 10.77 million shares from the previous reading of 10.00 million. Shares closed most recently at $82.50, in a 52-week range of $65.09 to $89.98.
Palo Alto Networks Inc. (NYSE: PANW) saw the number of its shares short increase to 7.19 million from the previous level of 6.80 million. Shares closed Tuesday at $140.44, within a 52-week range of $111.09 to $200.55.
Fortinet Inc. (NASDAQ: FTNT) short interest increased to 6.68 million shares, from its previous reading of 6.28 million. Shares closed Tuesday at $32.77, in a 52-week trading range of $23.16 to $50.31.
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Chris Lange is a financial and geopolitical writer with more than a decade of experience covering a myriad of topics. He has published thousands of articles for 24/7 Wall St., with past coverage focused heavily on stocks, IPOs, healthcare, defense, global affairs, and technology.
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