Finisar Co. (FNSR) Short Interest Update
Finisar Co. (NASDAQ:FNSR) saw a large drop in short interest in January. As of January 31st, there was short interest totalling 11,618,370 shares, a drop of 13.8% from the January 12th total of 13,475,012 shares. Approximately 10.4% of the shares of the company are short sold. Based on an average daily trading volume, of 3,650,683 shares, the days-to-cover ratio is currently 3.2 days.
Several research analysts have issued reports on the company. ValuEngine cut Finisar from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Zacks Investment Research raised Finisar from a “sell” rating to a “hold” rating in a research report on Thursday, February 8th. Piper Jaffray Companies cut Finisar from an “overweight” rating to a “neutral” rating in a research report on Monday, January 29th. Stifel Nicolaus dropped their target price on Finisar from $26.00 to $24.00 and set a “buy” rating on the stock in a research report on Wednesday, January 24th. Finally, Jefferies Group assumed coverage on Finisar in a research report on Wednesday, November 1st. They issued a “buy” rating and a $28.50 target price on the stock. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Finisar has a consensus rating of “Hold” and a consensus target price of $27.27.
Finisar (NASDAQ FNSR) opened at $17.59 on Tuesday. Finisar has a 12-month low of $16.64 and a 12-month high of $36.41. The company has a debt-to-equity ratio of 0.44, a quick ratio of 6.31 and a current ratio of 7.81. The firm has a market capitalization of $2,010.00, a PE ratio of 10.05, a PEG ratio of 1.91 and a beta of 1.07.
In related news, Director Jerry S. Rawls sold 30,209 shares of Finisar stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $17.94, for a total value of $541,949.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Roger C. Ferguson sold 3,000 shares of Finisar stock in a transaction dated Friday, December 22nd. The stock was sold at an average price of $21.68, for a total value of $65,040.00. Following the completion of the sale, the director now owns 41,034 shares of the company’s stock, valued at $889,617.12. The disclosure for this sale can be found here. Insiders sold a total of 62,578 shares of company stock valued at $1,273,865 over the last quarter. 1.02% of the stock is owned by corporate insiders.
Several hedge funds have recently bought and sold shares of the company. Virtu Financial LLC purchased a new position in shares of Finisar during the 4th quarter valued at about $459,000. Royce & Associates LP lifted its position in shares of Finisar by 664.0% during the 4th quarter. Royce & Associates LP now owns 610,400 shares of the technology company’s stock valued at $12,422,000 after buying an additional 530,500 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Finisar by 21.6% during the 4th quarter. The Manufacturers Life Insurance Company now owns 240,082 shares of the technology company’s stock valued at $4,886,000 after buying an additional 42,685 shares in the last quarter. Candriam Luxembourg S.C.A. lifted its position in shares of Finisar by 10.5% during the 4th quarter. Candriam Luxembourg S.C.A. now owns 212,297 shares of the technology company’s stock valued at $4,320,000 after buying an additional 20,198 shares in the last quarter. Finally, Verity Asset Management Inc. lifted its position in shares of Finisar by 89.6% during the 4th quarter. Verity Asset Management Inc. now owns 25,150 shares of the technology company’s stock valued at $452,000 after buying an additional 11,883 shares in the last quarter. 88.49% of the stock is currently owned by hedge funds and other institutional investors.
Finisar Corporation (Finisar) is a provider of optical subsystems and components that are used in data communication and telecommunication applications. The Company’s optical subsystems consist of transmitters, receivers, transceivers, transponders and active optical cables, which provide the fundamental optical-electrical or optoelectronic interface for interconnecting the electronic equipment used in these networks, including the switches, routers, and servers used in wireline networks.
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