Short Interest in FireEye Inc (NASDAQ:FEYE) Declines By 8.1%

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FireEye Inc (NASDAQ:FEYE) was the target of a large drop in short interest in November. As of November 15th, there was short interest totalling 17,940,000 shares, a drop of 8.1% from the October 31st total of 19,530,000 shares. Currently, 8.6% of the company’s stock are sold short. Based on an average daily volume of 3,570,000 shares, the days-to-cover ratio is currently 5.0 days.

FEYE traded down $0.12 during trading on Friday, hitting $16.76. The stock had a trading volume of 1,046,694 shares, compared to its average volume of 3,365,175. The firm has a market cap of $3.58 billion, a PE ratio of -23.28 and a beta of 0.97. FireEye has a 12 month low of $12.66 and a 12 month high of $20.51. The company has a current ratio of 1.53, a quick ratio of 1.52 and a debt-to-equity ratio of 1.36. The company has a 50 day simple moving average of $16.23 and a 200-day simple moving average of $14.81.

FireEye (NASDAQ:FEYE) last announced its earnings results on Tuesday, October 29th. The information security company reported $0.02 EPS for the quarter, topping the consensus estimate of $0.01 by $0.01. The firm had revenue of $225.91 million for the quarter, compared to the consensus estimate of $220.09 million. FireEye had a negative net margin of 29.44% and a negative return on equity of 20.06%. The business’s quarterly revenue was up 6.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.06 EPS. As a group, sell-side analysts anticipate that FireEye will post -0.62 earnings per share for the current fiscal year.

In other news, EVP William T. Robbins sold 6,256 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $16.93, for a total transaction of $105,914.08. Following the transaction, the executive vice president now owns 405,101 shares in the company, valued at approximately $6,858,359.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.40% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of FEYE. Vanguard Group Inc. grew its position in FireEye by 5.5% in the 2nd quarter. Vanguard Group Inc. now owns 18,190,940 shares of the information security company’s stock worth $269,407,000 after purchasing an additional 945,885 shares during the last quarter. Crosslink Capital Inc. acquired a new stake in FireEye in the 2nd quarter worth $10,844,000. Canada Pension Plan Investment Board grew its position in FireEye by 209.6% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,089,169 shares of the information security company’s stock worth $16,131,000 after purchasing an additional 737,369 shares during the last quarter. Nuveen Asset Management LLC acquired a new stake in FireEye in the 2nd quarter worth $8,676,000. Finally, Jacobs Levy Equity Management Inc. grew its position in FireEye by 52.6% in the 2nd quarter. Jacobs Levy Equity Management Inc. now owns 1,510,010 shares of the information security company’s stock worth $22,363,000 after purchasing an additional 520,487 shares during the last quarter. Institutional investors own 76.42% of the company’s stock.

A number of research analysts have recently weighed in on FEYE shares. SunTrust Banks started coverage on shares of FireEye in a report on Wednesday, October 2nd. They set a “hold” rating and a $15.00 price target on the stock. BidaskClub downgraded shares of FireEye from a “strong-buy” rating to a “buy” rating in a report on Monday, November 18th. Goldman Sachs Group began coverage on shares of FireEye in a report on Tuesday, November 12th. They issued a “neutral” rating and a $18.00 target price on the stock. Robert W. Baird set a $23.00 target price on shares of FireEye and gave the stock a “buy” rating in a report on Wednesday, October 9th. Finally, Northland Securities reiterated a “buy” rating and issued a $19.00 target price on shares of FireEye in a report on Friday, October 4th. Eight equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $18.42.

About FireEye

FireEye, Inc provides cybersecurity solutions that allow organizations to prepare for, prevent, investigate, respond to, and remediate cyber-attacks. The company provides threat detection and prevention solutions, including network security solutions, email security solutions, endpoint security solutions, and customer support and maintenance services.

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