Cybersecurity Stocks See Rising Tide in Short Interest
The October 15 short interest data have been compared with the previous figures, and short interest in most of these selected cybersecurity stocks increased.
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 October 15 short interest data have been compared with the previous figures, and short interest in most of these selected cybersecurity stocks increased.
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FireEye Inc. (NASDAQ: FEYE) saw its short interest rise to 26.62 million shares from the previous reading of 21.93 million. Shares were last seen trading at $16.79, in a 52-week range of $13.40 to $19.36.
Short interest at CyberArk Software Ltd. (NASDAQ: CYBR) decreased to 280,000 shares from the previous level of 329,000. Shares were trading at $67.94, within a 52-week range of $40.63 to $81.24.
Check Point Software Technologies Ltd.’s (NASDAQ: CHKP) short interest increased to 8.57 million shares from the previous 8.45 million. Shares were trading at $108.33, in a 52-week range of $93.76 to $120.81.
The number of Palo Alto Networks Inc. (NYSE: PANW) shares short was 4.53 million. The previous level was 4.16 million. Shares traded recently at $185.75, within a 52-week trading range of $135.85 to $239.50.
Fortinet Inc.’s (NASDAQ: FTNT) short interest decreased to 5.89 million shares from the previous 6.33 million. Shares were trading at $79.10. The 52-week range is $37.15 to $94.37.
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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.
