Technology

Short Interest Remains Mixed for Major Cybersecurity Stocks

Chris Lange

Published: April 12, 2016 9:45 am

Last Updated: January 13, 2020 10:53 am

Cybersecurity has become an increasingly important issue that companies have to address as they continue to develop new platforms and mobile apps. Looking back in years past, hackers were able to steal credit card and personal information from major retailers like Home Depot and Target. 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.

The March 31 short interest data have been compared with the previous figures, and short interest for the selected cybersecurity stocks was mixed.

FireEye Inc. (NASDAQ: FEYE) saw its short interest decrease to 16.19 million shares from the previous reading of 16.50 million. Shares closed Monday at $17.39, in a 52-week trading range of $11.35 to $55.33.

CyberArk Software Ltd. (NASDAQ: CYBR) saw its short interest fall slightly to 2.13 million shares from the previous level of 2.19 million. Shares closed Monday at $38.48, within a 52-week range of $31.50 to $76.35.

Palo Alto Networks Inc. (NYSE: PANW) saw the number of its shares short decrease to 6.69 million from the previous level of 7.13 million. Shares closed Monday at $140.44, within a 52-week range of $111.09 to $200.55.

Fortinet Inc. (NASDAQ: FTNT) short interest increased to 6.06 million shares, from its previous reading of 5.55 million. Shares closed Monday at $29.94, in a 52-week trading range of $23.16 to $50.31.