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 May 31 short interest data have been compared with the previous figures, and short interest moves in these selected cybersecurity stocks were increased.
FireEye Inc. (NASDAQ: FEYE) saw its short interest increase to 17.86 million shares from the previous reading of 12.82 million. Shares were last seen trading at $17.16, in a 52-week range of $13.40 to $19.36.
Short interest at CyberArk Software Ltd. (NASDAQ: CYBR) increased to 1.04 million shares from the previous level of 697,700. Shares were trading at $64.70, within a 52-week range of $39.34 to $65.34.
Check Point Software Technologies Ltd.’s (NASDAQ: CHKP) short interest increased to 10.59 million shares from the previous reading of 10.06 million. Shares were trading at $99.33, in a 52-week range of $93.76 to $119.20.
The number of Palo Alto Networks Inc. (NYSE: PANW) shares short was 4.37 million. The previous level was 4.45 million. Shares traded recently at $198.71, within a 52-week trading range of $126.56 to $214.69.
Fortinet Inc.’s (NASDAQ: FTNT) short interest increased to 6.12 million shares from the previous 5.96 million. Shares were trading at $63.25. The 52-week range is $35.44 to $63.72.