Short Sellers Hike Bets in Cybersecurity Stocks

By Chris Lange Updated Mar 13, 6:16PM EDT · Published Jun 12, 10:45AM EDT

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Short Sellers Hike Bets in Cybersecurity Stocks — © Thinkstock

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.

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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.

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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.