Tag Archive for: Short
Qulliq Energy stops short of labelling cyberattack another Nunavut ransomware incident
The Qulliq Energy Corp. says it was locked out of its data in January’s cyberattack, but stopped short of calling it a ransomware attack.
QEC announced last month it fell victim to a cyberattack, which was discovered on Jan. 15. While no operating technology, such as power plant infrastructure, was affected, QEC’s information technology, like email, billing and payroll databases were.
“There’s different levels of cyberattacks,” said Bill Nippard, QEC’s vice-president of operations and engineering. “In some cases they steal your data. In other cases, they simply lock your data out and encrypt it. So, at this point, we’re still continuing to investigate, but we don’t believe our data has been impacted, if you will.”
Asked whether the nature of the attack was the latter, where QEC was locked out of its systems and the data encrypted, Nippard said it was still early in the investigation.
“That appears to be the type of cyberattack that we’ve seen in this case. But it’s still very early in the investigation. There’s still a lot more details to be investigated.”
Whether this was a ransomware attack or not is significant because if it is, this would be the second time in more than three years the Government of Nunavut (GN) has been hit by such a cyberattack.
In November 2019, the GN’s entire IT system was hacked. It took six weeks to get all communities restored with core connectivity and applications. QEC was spared, because the public utility isn’t part of the GN’s IT system.
The 2019 attack cost the department of community and government services alone more than $5.4 million to fix, according to the government’s report on the attack. Recovery included replacing more than 1,400 workstations. A synopsis from Microsoft — which was hired by the GN to come in and rebuild the network — notes more than 5,500 devices were affected.
“QEC is not at liberty to discuss the details of the cyberattack,” Nippard said when asked outright if this was a ransomware attack, based on the details he had already provided.
“If you can appreciate, this is like untangling a very large knot. It takes time, and it takes some patience. We will get to the bottom of it all, but it’s going to take a…
Short Interest Update for Arlo Technologies, Inc. (NYSE:ARLO)
In November, there was a sizeable reduction in the number of short positions held in Arlo Technologies, Inc. (NYSE: ARLO). As of November 30, there were 1,890,000 shares available for a short sale, representing a decrease of 30.3% from the total number of 2,710,000 shares that were available for a short sale on November 15. As a result, the days-to-cover ratio currently stands at 2.8 days. This number is derived from the fact that the daily volume of trading for shares is an average of 671,600 transactions.
It was reported that on November 11, Arlo Technologies Director Grady Summers purchased 30,000 shares of the company’s stock. This information is related to the news that we just discussed. At an average price of $3.80 per share, the total cost of purchasing all shares came to $114,000 in cash and checks. This is the price that was paid for the shares when their average price was taken into consideration. Because of the acquisition, the director now owns a total of 219,729 shares of the company. Based on the current market price, these shares have a value of approximately $834,970.20. A copy of the official paperwork that was used to disclose the acquisition can be found on the website of the Securities and Exchange Commission (S.E.C.). The Chief Executive Officer of Arlo Technologies, Matthew Blake Mcrae, purchased 20,400 shares of the company’s stock on November 9, as reported in related news regarding Arlo Technologies. The price that was paid for each share, on average, was $2.97, which resulted in the total amount spent on the acquisition of the shares being $60,588.00. As a direct result of the transaction, the Chief Executive Officer now owns a total of 1,724,039 shares of the company, which have an estimated value of $5,120,395.83. A copy of the official paperwork that was used to disclose the acquisition can be found on the website of the Securities and Exchange Commission (S.E.C.). In addition, Director Grady Summers purchased 30,000 shares of the company’s stock on Friday, November 11. At an average price of $3.80 per share, the total cost of purchasing all shares came to $114,000 in cash and checks. This is the price that was paid for the shares when their…