Finisar Target of Unusually Large Options Trading (FNSR)
Shares of Finisar (NASDAQ:FNSR) were the target of some unusual options trading on Thursday. Investors purchased 10,150 put options on the stock, American Banking and Market News reports. This represents an increase of 313% compared to the typical volume of 2,460 put options.
Several analysts have recently commented on the stock. Analysts at RBC Capital upgraded shares of Finisar from a “sector perform” rating to an “outperform” rating in a research note on Friday, March 28th. They now have a $30.00 price target on the stock, up previously from $26.00. Separately, analysts at ACI Research downgraded shares of Finisar to a “sell” rating in a research note on Friday, March 7th. One analyst has rated the stock with a sell rating, three have given a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $28.40.
Shares of Finisar (NASDAQ:FNSR) traded up 9.71% during mid-day trading on Thursday, hitting $24.85. The stock had a trading volume of 3,368,216 shares. Finisar has a 52 week low of $13.41 and a 52 week high of $28.85. The stock’s 50-day moving average is $24.82 and its 200-day moving average is $23.8. The company has a market cap of $2.405 billion and a price-to-earnings ratio of 25.89.
Finisar Corporation (NASDAQ:FNSR) is a provider of optical subsystems and components that are used in data communication and telecommunication applications.
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