Oclaro (OCLR) : 2 days before expiry, shorts in Oclaro (OCLR) have reduced from 27,879,879 on Jul 29, 2016, to 7,664,176 on August 15, 2016. On an average, 4,795,188 shares are traded on the exchange. The outstanding bearish positions are equal to 7.3% of the float. Short sellers have covered -20,215,703 shares, a reduction of -72.5%, which underlines that they dont expect the stock to fall further from the current levels. The short interest information was released on Wednesday Aug 24th after the market close.
Oclaro (NASDAQ:OCLR): The stock opened at $7.44 on Wednesday but the bulls could not build on the opening and the stock topped out at $7.68 for the day. The stock traded down to $7.36 during the day, due to lack of any buying support eventually closed down at $7.41 with a loss of -1.59% for the day. The stock had closed at $7.53 on the previous day. The total traded volume was 3,416,177 shares.
In a related news, Carter Adam, (Chief Commercial Officer) of Oclaro, Inc., unloaded 19,506 shares at an average price of $6 on July 26, 2016. The total amount of the transaction was worth $117,036, according to the disclosed information with the Securities and Exchange Commission in a Form 4 filing.
Oclaro, Inc. is a provider of optical components, modules and subsystems for the optical transport, service provider, enterprise and data center markets. The Company supplies optical network technology to telecommunication and data communication equipment companies across the world. The Company designs, manufactures and markets optical components, modules and subsystems that generate, detect, combine and separate light signals in optical communications networks. Its product offerings include client side transceivers, line side transceivers, tunable laser transmitters, lithium niobate modulators, transponder modules and receivers. The Company supplies optical products, including tunable lasers, external modulators, integrated lasers and modulators and receivers. The Company also supplies products at the module and subsystem levels, including transceivers, transponders and controlled subsystems.