Brocade Communications Systems, Inc. (BRCD) Sees Significant Decline in Short Interest
Brocade Communications Systems, Inc. (NASDAQ:BRCD) was the target of a large decline in short interest during the month of November. As of November 15th, there was short interest totalling 28,753,155 shares, a decline of 27.0% from the October 31st total of 39,402,363 shares. Based on an average daily volume of 14,113,909 shares, the days-to-cover ratio is presently 2.0 days.
Several analysts have weighed in on BRCD shares. Royal Bank Of Canada reiterated a “hold” rating and set a $12.75 price target on shares of Brocade Communications Systems in a research note on Thursday, November 2nd. Robert W. Baird reiterated a “hold” rating on shares of Brocade Communications Systems in a research note on Friday, August 25th. Finally, BidaskClub upgraded Brocade Communications Systems from a “strong sell” rating to a “sell” rating in a research note on Monday, August 14th. One research analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. Brocade Communications Systems currently has an average rating of “Hold” and a consensus price target of $12.83.
Shares of Brocade Communications Systems (NASDAQ:BRCD) opened at $12.73 on Friday. Brocade Communications Systems has a one year low of $11.43 and a one year high of $12.74. The company has a quick ratio of 2.66, a current ratio of 2.78 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $5,270.00, a PE ratio of 39.78, a PEG ratio of 2.93 and a beta of 0.54.
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Brocade Communications Systems Company Profile
Brocade Communications Systems, Inc (Brocade) is a supplier of networking hardware, software and services, including storage area networking (SAN) solutions and Internet protocol (IP) networking solutions for businesses and organizations of various types and sizes. The Company operates through three segments: SAN Products, IP Networking Products and Global Services.
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