Short Sellers Back Off Cybersecurity Stocks
The December 15 short interest data have been compared with the previous figures, and short interest moves in the selected cybersecurity stocks was mixed.
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 December 15 short interest data have been compared with the previous figures, and short interest moves in the selected cybersecurity stocks was mixed.
What is interesting here is that many investors think cybersecurity is the next area in technology that needs real consolidation.
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FireEye Inc. (NASDAQ: FEYE) saw its short interest decrease to 21.34 million shares from the previous reading of 23.90 million. Shares closed Tuesday at $12.39, in a 52-week trading range of $10.87 to $22.48.
CyberArk Software Ltd. (NASDAQ: CYBR) had its short interest decrease to 644,520 shares from the previous level of 801,000 million. Shares closed Tuesday at $46.32, within a 52-week range of $31.50 to $59.28.
Check Point Software Technologies Ltd.’s (NASDAQ: CHKP) short interest increased to 9.95 million shares from the previous reading of 9.68 million. Shares closed most recently at $86.33, in a 52-week range of $71.64 to $89.98.
Palo Alto Networks Inc. (NYSE: PANW) saw the number of its shares short increase to 6.58 million from the previous level of 6.40 million. Shares closed Tuesday at $127.09, within a 52-week range of $111.09 to $180.10.
Fortinet Inc.’s (NASDAQ: FTNT) short interest decreased slightly to 3.07 million shares from its previous reading of 3.18 million. Shares closed Tuesday at $30.08, in a 52-week trading range of $23.16 to $37.48.
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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.
