Netskope, Inc. saw short interest jump 76.4% during June.
Short sellers held 26.9 million shares by June 30. This volume represents approximately 8.9% of the company's total stock. Short sellers would require 3.1 days to cover their positions based on average trading volume.
Bearish sentiment increased despite Netskope reporting better-than-expected quarterly results. The company reported an EPS loss of $0.06. This result beat the estimated loss of $0.07. Revenue reached $201.6 million, marking a 27.8% increase year-over-year.
Analysts maintain a Moderate Buy consensus rating despite recent mixed actions. Notable insider buying activity contrasts the rising short interest. Iconiq Strategic Partners recently completed a significant share purchase.