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 retailers like 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.
24/7 Wall St has also collected data on the most shorted NYSE stocks and the most shorted Nasdaq stocks.
The December 30 short interest data have been compared with the previous figures, and short interest moves in the many of the selected cybersecurity stocks were down.
What is interesting here is that many investors think cybersecurity is the next area in technology that needs real consolidation.
FireEye Inc. (NASDAQ: FEYE) saw its short interest decrease to 20.96 million shares from the previous reading of 21.34 million. Shares were last seen at $12.74, in a 52-week trading range of $10.87 to $19.63.
CyberArk Software Ltd. (NASDAQ: CYBR) had its short interest decrease to 389,162 shares from the previous level of 644,520. Shares were trading at $50.68, within a 52-week range of $31.50 to $59.28.
Check Point Software Technologies Ltd.’s (NASDAQ: CHKP) short interest decreased to 9.59 million shares from the previous reading of 9.95 million. Shares were trading at $87.88, in a 52-week range of $71.64 to $89.98.
Palo Alto Networks Inc. (NYSE: PANW) saw the number of its shares short increase slightly to 6.65 million from the previous level of 6.58 million. Shares were trading at $133.92, within a 52-week range of $111.09 to $165.69.
Fortinet Inc.’s (NASDAQ: FTNT) short interest increased to 5.37 million shares from its previous reading of 3.07 million. Shares were trading at $31.52, in a 52-week trading range of $23.16 to $37.48.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
