Finisar Corporation (FNSR) : Traders are bullish on Finisar Corporation (FNSR) as it has outperformed the S&P 500 by a wide margin of 5.52% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 3.66%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 4.1% in the last 1 week, and is up 8.14% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Finisar Corporation (NASDAQ:FNSR): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $19.17 and $19.00 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $19.61. The buying momentum continued till the end and the stock did not give up its gains. It closed at $19.53, notching a gain of 2.84% for the day. The total traded volume was 1,309,591 . The stock had closed at $18.99 on the previous day.
The stock has recorded a 20-day Moving Average of 4.87% and the 50-Day Moving Average is 9.08%. Finisar Corp. is up 21.83% in the last 3-month period. Year-to-Date the stock performance stands at 34.32%.
Finisar Corporation (FNSR) : 10 investment research analysts covering Finisar Corporation (FNSR) have an average price target of $20.85 for the near short term. The highest target price given by the Brokerage Firm to the stock is $25 and the lowest target is $14 for the short term. Analysts expect the variance to be within $3.64 of the average price.
Finisar Corporation (Finisar) is a provider of optical subsystems and components that are used in data communication and telecommunication applications. The Companys optical subsystems consist of transmitters, receivers, transceivers, transponders, optical engines and active optical cables that provide the fundamental optical-electrical, or optoelectronic, interface for interconnecting the electronic equipment used in communication networks, including the switches, routers and servers used in wireline networks, as well as the antennas and base stations used in wireless networks. These products rely on the use of semiconductor lasers and photodetectors in conjunction with integrated circuits and optoelectronic packaging to provide a means for transmitting and receiving digital signals over fiber optic cable at speeds ranging from less than one gigabit per second, to more than 100 gigabits per second, over distances of less than 10 meters to more than 2,000 kilometers.