Technology

Short Sellers Pile Into Cybersecurity Stocks

Chris Lange

Published: May 11, 2016 9:15 am

Last Updated: January 13, 2020 9:34 am

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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