Finisar Corporation (NASDAQ:FNSR) has witnessed a rise of 0.2% or 17,048 shares in its short figure. The short interest augmentation took it from 7,650,059 on May 31,2016 to 7,667,107 on June 15,2016. In terms of floated shares, the short interest was calculated to be 7.3%. The days to cover are 4 given that the daily volume averaged 1,751,620 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.
Finisar Corporation (NASDAQ:FNSR): The stock opened at $17.75 on Friday but the bulls could not build on the opening and the stock topped out at $18.08 for the day. The stock traded down to $17.60 during the day, due to lack of any buying support eventually closed down at $17.72 with a loss of -6.44% for the day. The stock had closed at $18.94 on the previous day. The total traded volume was 2,147,456 shares.
The company shares have dropped -2.10% from its 1 Year high price. On Jun 17, 2016, the shares registered one year high at $19.20 and the one year low was seen on Oct 2, 2015. The 50-Day Moving Average price is $16.85 and the 200 Day Moving Average price is recorded at $15.52.
Finisar Corporation (NASDAQ:FNSR) has tumbled 5.44% during the past week, however, the bigger picture is still very bullish; the stocks have advanced and posted positive gains of 7.33% in the last four weeks. The stocks have underperformed the S&P 500 by 3.87% during the past week but Finisar Corporation (NASDAQ:FNSR) it has outperformed the index in 4 weeks by 10.58%.
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.