Major Cybersecurity Stocks See Rise in Short Interest Bets

By Chris Lange Updated Jan 12, 12:37PM EST · Published Apr 26, 9:45AM EDT

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Major Cybersecurity Stocks See Rise in Short Interest Bets — © Thinkstock

[cnxvideo id=”655353″ 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 companies like JPMorgan and Home Depot. 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.

What is interesting here is that many investors think cybersecurity is the next area in technology that needs real consolidation.

The April 13 short interest data have been compared with the previous figures, and short interest in most of the selected cybersecurity stocks increased.

FireEye Inc. (NASDAQ: FEYE) saw its short interest decrease to 33.75 million shares from the previous reading of 33.94 million. Shares were last seen at $12.66, in a 52-week trading range of $10.35 to $18.73.

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The short interest at CyberArk Software Ltd. (NASDAQ: CYBR) increased to 1.64 million shares from the previous level of 1.44. Shares were trading at $52.76, within a 52-week range of $38.20 to $59.28.

Check Point Software Technologies Ltd.’s (NASDAQ: CHKP) short interest decreased to 6.44 million shares from with the previous reading of 6.55 million. Shares were trading at $105.36, in a 52-week range of $74.34 to $105.73.

The number of Palo Alto Networks Inc. (NYSE: PANW) shares short rose to 7.58 million, compared with the previous level of 7.04 million. Shares were trading at $110.40, within a 52-week range of $107.31 to $165.69.

Fortinet Inc.’s (NASDAQ: FTNT) short interest increased to 6.15 million shares from its previous reading of 5.86 million. Shares were trading at $40.27, in a 52-week trading range of $28.51 to $40.64.

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About the Author Chris Lange →

Chris Lange is a writer for 24/7 Wall St., based in Houston. He has covered financial markets over the past decade with an emphasis on healthcare, tech, and IPOs. During this time, he has published thousands of articles with insightful analysis across these complex fields. Currently, Lange's focus is on military and geopolitical topics.

Lange's work has been quoted or mentioned in Forbes, The New York Times, Business Insider, USA Today, MSN, Yahoo, The Verge, Vice, The Intelligencer, Quartz, Nasdaq, The Motley Fool, Fox Business, International Business Times, The Street, Seeking Alpha, Barron’s, Benzinga, and many other major publications.

A graduate of Southwestern University in Georgetown, Texas, Lange majored in business with a particular focus on investments. He has previous experience in the banking industry and startups.