Short Interest in Finisar (FNSR) Increases By 7.0%
Finisar (NASDAQ:FNSR) saw a significant growth in short interest in April. As of April 13th, there was short interest totalling 27,057,569 shares, a growth of 7.0% from the March 30th total of 25,288,890 shares. Based on an average daily volume of 4,553,106 shares, the short-interest ratio is presently 5.9 days. Approximately 24.0% of the shares of the stock are sold short.
Shares of FNSR opened at $15.74 on Friday. The company has a current ratio of 4.06, a quick ratio of 3.24 and a debt-to-equity ratio of 0.29. The company has a market cap of $1,721.57, a P/E ratio of 9.10, a PEG ratio of 2.28 and a beta of 1.17. Finisar has a 1 year low of $14.25 and a 1 year high of $28.99.
Finisar (NASDAQ:FNSR) last posted its quarterly earnings results on Thursday, March 8th. The technology company reported $0.20 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.23 by ($0.03). The company had revenue of $332.40 million for the quarter, compared to analysts’ expectations of $333.15 million. Finisar had a return on equity of 5.97% and a net margin of 7.35%. The business’s revenue for the quarter was down 12.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.59 EPS. equities analysts predict that Finisar will post 0.47 EPS for the current year.
Large investors have recently bought and sold shares of the business. Ladenburg Thalmann Financial Services Inc. raised its stake in Finisar by 103.4% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,728 shares of the technology company’s stock worth $127,000 after purchasing an additional 2,912 shares during the period. Cubist Systematic Strategies LLC raised its stake in Finisar by 598.3% during the third quarter. Cubist Systematic Strategies LLC now owns 7,004 shares of the technology company’s stock worth $155,000 after purchasing an additional 6,001 shares during the period. First Mercantile Trust Co. purchased a new position in Finisar during the fourth quarter worth approximately $158,000. Janney Montgomery Scott LLC purchased a new position in Finisar during the third quarter worth approximately $217,000. Finally, Aperio Group LLC purchased a new position in Finisar during the fourth quarter worth approximately $231,000. 95.68% of the stock is currently owned by institutional investors.
Several analysts have issued reports on the stock. William Blair reaffirmed a “buy” rating on shares of Finisar in a report on Monday, March 5th. Craig Hallum reaffirmed a “buy” rating on shares of Finisar in a report on Tuesday, January 2nd. Piper Jaffray downgraded shares of Finisar from an “overweight” rating to a “neutral” rating in a report on Monday, January 29th. Raymond James reaffirmed an “outperform” rating on shares of Finisar in a report on Monday, March 5th. Finally, Loop Capital initiated coverage on shares of Finisar in a research note on Monday, January 29th. They set a “hold” rating and a $19.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $24.56.
Finisar Corporation provides optical subsystems and components for data communication and telecommunication applications in the United States, China, Malaysia, and internationally. The company's optical subsystems primarily include transmitters, receivers, transceivers, transponders, and active optical cables, which provide the fundamental optical-electrical, or optoelectronic interface for interconnecting the electronic equipment used in networks comprising switches, routers, and servers used in wireline networks, as well as antennas and base stations used in wireless networks.
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