Arista Networks (NYSE:ANET) has seen a shortfall of 405,560 shares or 5.8% in the short interest. The remaining shorts are 16.4% of the total floated shares. The net short interest, as on June 15,2016, stood at 6,646,870 shares and the stocks days to cover will be 11 by factoring in the average per day volume of 604,941 shares. On May 31,2016, 7,052,430 shares were shorted. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.
Arista Networks (NYSE:ANET): The stock opened at $68.03 on Friday but the bulls could not build on the opening and the stock topped out at $71.00 for the day. The stock traded down to $66.40 during the day, due to lack of any buying support eventually closed down at $66.65 with a loss of -9.71% for the day. The stock had closed at $73.82 on the previous day. The total traded volume was 2,178,290 shares.
The company shares have dropped -17.68% from its 1 Year high price. On Jul 23, 2015, the shares registered one year high at $88.25 and the one year low was seen on Feb 9, 2016. The 50-Day Moving Average price is $71.20 and the 200 Day Moving Average price is recorded at $66.44.
Arista Networks (NYSE:ANET) has tumbled 7.51% during the past week and has dropped 8.52% in the last 4 week period. The stocks are negative as compared to the S&P 500 for the past week with a loss of 5.97%. Arista Networks (NYSE:ANET) has underperformed the index by 5.76% in the last 4 weeks. Investors should watch out for further signals and trade with caution.
Arista Networks, Inc. is a supplier of cloud networking solutions that use software to address the needs Internet companies, cloud service providers and next-generation data centers for enterprises. The Companys cloud networking solutions consist of its Extensible Operating System (EOS) a set of network applications and its 10/40/100 Gigabit Ethernet switches. The Company offers range of product lines of data center 10/40/100 Gigabit Ethernet switches in the industry, which consist of its 7050 Series and 7150 Series top-of-rack switches, 72XX/7300 X Series SPLINE switches and its 7280 and 7500 E Series spine switches. EOS supports cloud and virtualization solutions, including VMware NSX, Microsoft System Center, OpenStack and other cloud management frameworks. The Company also offers EOS+, a software platform for network programmability and automation.