Short Sellers Get More Aggressive on Cybersecurity Stocks
The October 14 short interest data have been compared with the previous figures, and short interest for most of the selected cybersecurity stocks increased.
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 October 14 short interest data have been compared with the previous figures, and short interest for most of the selected cybersecurity stocks increased. What is interesting here is that many investors think cybersecurity is the next area that needs real consolidation in technology.
FireEye Inc. (NASDAQ: FEYE) saw its short interest increased to 24.97 million shares from the previous reading of 23.13 million. Shares closed Tuesday at $13.30, in a 52-week trading range of $11.35 to $31.74.
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CyberArk Software Ltd. (NASDAQ: CYBR) had its short interest rise slightly to 1.32 million shares from the previous level of 1.30 million. Shares closed Tuesday at $49.93, within a 52-week range of $31.50 to $59.28.
Check Point Software Technologies Ltd.’s (NASDAQ: CHKP) short interest increased to 9.46 million shares from the previous reading of 9.16 million. Shares closed most recently at $76.63, in a 52-week range of $71.64 to $89.98.
Palo Alto Networks Inc. (NYSE: PANW) saw the number of its shares short decrease very slightly to 7.53 million from the previous level of 7.60 million. Shares closed Tuesday at $155.48, within a 52-week range of $111.09 to $194.73.
Fortinet Inc.’s (NASDAQ: FTNT) short interest increased to 4.33 million shares from its previous reading of 4.51 million. Shares closed Tuesday at $34.09, in a 52-week trading range of $23.16 to $44.63.
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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.
His work has been quoted, or referenced by a number of outlets including Business Insider, USA Today, Yahoo Finance, MSN, The Motley Fool, and many other publications. A graduate of Southwestern University, he studied business with a focus on investments and has previous experience in banking and startups.
When not reading or writing the news, he is following his passion for Lacrosse, playing chess, or building solar projects with his dad.
