Short Sellers Grow More Selective on Cybersecurity Stocks
The November 15 short interest data have been compared with the previous figures, and short interest moves in these selected cybersecurity stocks were mixed.
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 November 15 short interest data have been compared with the previous figures, and short interest moves in these selected cybersecurity stocks were mixed.
FireEye Inc. (NASDAQ: FEYE) saw its short interest fall to 20.68 million shares from the previous reading of 23.23 million. Shares were last seen trading at $19.08, in a 52-week range of $13.52 to $20.61.
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Short interest at CyberArk Software Ltd. (NASDAQ: CYBR) decreased to 260,800 shares from the previous level of 289,100. Shares were trading at $67.37, within a 52-week range of $40.63 to $84.21.
Check Point Software Technologies Ltd.’s (NASDAQ: CHKP) short interest decreased to 8.57 million shares from the previous 8.80 million. Shares were trading at $107.85, in a 52-week range of $93.76 to $120.81.
The number of Palo Alto Networks Inc. (NYSE: PANW) shares short was 4.75 million. The previous level was 4.70 million. Shares traded recently at $166.59, within a 52-week trading range of $140.12 to $239.50.
Fortinet Inc.’s (NASDAQ: FTNT) short interest increased to 6.83 million shares from the previous 6.08 million. Shares were trading at $70.70. The 52-week range is $40.50 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.
