Brocade Communications Systems (BRCD) : 10 investment research analysts covering Brocade Communications Systems (BRCD) have an average price target of $9.1 for the near short term. The highest target price given by the Brokerage Firm to the stock is $11 and the lowest target is $8 for the short term. Analysts expect the variance to be within $1.13 of the average price.
Brocade Communications Systems (BRCD) has shown a drop of 7.6% or 1,371,837 shares in the short positions. The bets have increased to 16,627,073 shares on June 30,2016 from 17,998,910 shares on June 15,2016. With respect to the floated shares, the shorts are 3.6%. The days to cover are calculated to be 2, using the standard per day volume of 9,720,307 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 12th.
Also, Major Brokerage house, Goldman Sachs maintains its ratings on Brocade Communications Systems (NASDAQ:BRCD). In the latest research report, Goldman Sachs lowers the target price from $10 per share to $9 per share. According to the latest information available, the shares are now rated Neutral by the analysts at the agency. The rating by the firm was issued on May 20, 2016.
Brocade Communications Systems (NASDAQ:BRCD): On Thursdays trading session , Opening price of the stock was $9.56 with an intraday high of $9.57. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $8.94. However, the stock managed to close at $9.09, a loss of 7.15% for the day. On the previous day, the stock had closed at $9.79. The total traded volume of the day was 20,493,522 shares.
Brocade Communications Systems, Inc. (Brocade) is a supplier of networking equipment, including end-to-end Internet Protocol-based Ethernet networking solutions and storage area networking solutions for businesses and organizations of all types and sizes, including global enterprises, and service providers, such as telecommunication firms, cable operators and mobile carriers. Brocade offers networking hardware and software products and services. Its products and services are marketed, sold and supported globally to end-user customers through distribution partners, including original equipment manufacturers, distributors, systems integrators, value-added resellers and directly to end-users by the Brocade direct sales force. The Company operates in four segments: Data Storage, Global Services, IP Layer 2-3 and IP Layer 4-7/ Application Delivery Products.