Short Sellers Hike Bets in Cybersecurity Stocks

January 28, 2019 by 247chrislange

Source: EgudinKa / iStock
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 January 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 17.02 million shares from the previous reading of 16.39 million. Shares were last seen trading at $16.91, in a 52-week range of $13.60 to $20.61.

Short interest at CyberArk Software Ltd. (NASDAQ: CYBR) increased to 595,200 shares from the previous level of 339,400. Shares were trading at $78.58, within a 52-week range of $40.63 to $84.21.

Check Point Software Technologies Ltd.’s (NASDAQ: CHKP) short interest increased to 8.42 million shares from the previous 7.24 million. Shares were trading at $107.82, in a 52-week range of $93.76 to $120.81.

The number of Palo Alto Networks Inc. (NYSE: PANW) shares short was 5.22 million. The previous level was 5.34 million. Shares traded at $196.00, within a 52-week range of $148.41 to $239.50.

Fortinet Inc.’s (NASDAQ: FTNT) short interest decreased to 10.56 million shares from the previous 10.65 million. Shares were trading at $73.21. The 52-week range is $43.55 to $94.37.

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