Short Sellers Back Off Cybersecurity Stocks
The August 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 August 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 increase to 19.10 million shares from the previous reading of 17.30 million. Shares were last seen trading at $16.37, in a 52-week range of $13.40 to $19.36.
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Short interest at CyberArk Software Ltd. (NASDAQ: CYBR) decreased to 377,000 shares from the previous level of 465,800. Shares were trading at $74.20, within a 52-week range of $39.34 to $74.69.
Check Point Software Technologies Ltd.’s (NASDAQ: CHKP) short interest decreased to 10.10 million shares from the previous 11.16 million. Shares were trading at $115.74, in a 52-week range of $93.76 to $119.20.
The number of Palo Alto Networks Inc. (NYSE: PANW) shares short was 3.91 million. The previous level was 4.29 million. Shares traded recently at $225.43, within a 52-week trading range of $126.82 to $226.71.
Fortinet Inc.’s (NASDAQ: FTNT) short interest increased to 6.66 million shares from the previous 6.33 million. Shares were trading at $80.39. The 52-week range is $35.44 to $80.70.
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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.
