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 May 31 short interest data have been compared with the previous figures, and short interest moves for the selected cybersecurity stocks were mixed.
FireEye Inc. (NASDAQ: FEYE) saw its short interest increase to 20.90 million shares from the previous reading of 18.46 million. Shares closed Thursday at $16.58, in a 52-week trading range of $11.35 to $55.33.
CyberArk Software Ltd. (NASDAQ: CYBR) saw its short interest drop to 1.70 million shares from the previous level of 1.90 million. Shares closed Thursday at $45.71, within a 52-week range of $31.50 to $76.35.
Check Point Software Technologies Ltd. (NASDAQ: CHKP) short interest increased slightly to 10.52 million shares from the previous reading of 10.49 million. Shares closed most recently at $85.20, in a 52-week range of $65.09 to $89.98.
Palo Alto Networks Inc. (NYSE: PANW) saw the number of its shares short decrease to 6.05 million from the previous level of 6.79 million. Shares closed Thursday at $134.84, within a 52-week range of $111.09 to $200.55.
Fortinet Inc. (NASDAQ: FTNT) short interest increased to 4.83 million shares, from its previous reading of 4.71 million. Shares closed Thursday at $34.46, in a 52-week trading range of $23.16 to $50.31.