Short Sellers Run for Cover on Cybersecurity Stocks
The February 15 short interest data have been compared with the previous figures, and short interest in most of these selected cybersecurity stocks decreased.
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 Equifax, 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 February 15 short interest data have been compared with the previous figures, and short interest in most of these selected cybersecurity stocks decreased.
FireEye Inc. (NASDAQ: FEYE) saw its short interest decrease to 20.51 million shares from the previous reading of 21.98 million. Shares were last seen trading at $16.72, in a 52-week range of $10.35 to $18.00.
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The short interest at CyberArk Software Ltd. (NASDAQ: CYBR) dropped to 1.03 million shares from the previous level of 1.68 million. Shares were trading at $48.57, within a 52-week range of $39.34 to $55.63.
Check Point Software Technologies Ltd.’s (NASDAQ: CHKP) short interest decreased to 8.07 million shares from the previous reading of 9.92 million. Shares were trading at $103.69, in a 52-week range of $95.03 to $119.20.
The number of Palo Alto Networks Inc. (NYSE: PANW) shares short was 4.76 million. The previous level was 5.50 million. Shares were last seen at $173.24, within a 52-week trading range of $107.31 to $179.15.
Fortinet Inc.’s (NASDAQ: FTNT) short interest increased to 4.08 million shares from its previous reading of 3.88 million. Shares were trading at $49.95, in a 52-week range of $35.44 to $50.87.
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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.
