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Shares of Brocade Communications Systems (NASDAQ:BRCD) saw a large increase in short interest in the month of April. As of April 30th, there was short interest totalling 6,510,174 shares, an increase of 55.4% from the April 15th total of 4,188,234 shares, reports. Approximately 1.5% of the shares of the stock are sold short. Based on an average trading volume of 4,741,387 shares, the short-interest ratio is currently 1.4 days.

A number of research firms have recently commented on BRCD. Analysts at Summit Research downgraded shares of Brocade Communications Systems from a “buy” rating to a “sell” rating in a research note on Monday, May 5th. They now have a $7.00 price target on the stock, down previously from $12.00. Separately, analysts at SunTrust initiated coverage on shares of Brocade Communications Systems in a research note on Thursday, April 10th. They set a “neutral” rating and a $11.00 price target on the stock. Finally, analysts at Zacks downgraded shares of Brocade Communications Systems from an “outperform” rating to a “neutral” rating in a research note on Wednesday, February 19th. They now have a $10.30 price target on the stock. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating and seven have assigned a buy rating to the company. Brocade Communications Systems currently has a consensus rating of “Hold” and an average price target of $9.22.

Brocade Communications Systems (NASDAQ:BRCD) opened at 8.47 on Wednesday. Brocade Communications Systems has a one year low of $5.23 and a one year high of $10.96. The stock has a 50-day moving average of $9.5 and a 200-day moving average of $9.19. The company has a market cap of $3.686 billion and a price-to-earnings ratio of 12.32.

Brocade Communications Systems (NASDAQ:BRCD) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $0.24 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.20 by $0.04. The company had revenue of $565.00 million for the quarter, compared to the consensus estimate of $550.69 million. During the same quarter last year, the company posted $0.21 earnings per share. Brocade Communications Systems’s revenue was down 3.3% compared to the same quarter last year. Analysts expect that Brocade Communications Systems will post $0.83 EPS for the current fiscal year.

Brocade Communications Systems, Inc (NASDAQ:BRCD) is a supplier of networking equipment, including end-to-end Internet Protocol (IP)-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.

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