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Shares of Finisar (NASDAQ:FNSR) hit a new 52-week low during mid-day trading on Thursday after an insider sold shares in the company, Stock Ratings reports. The stock traded as low as $18.96 and last traded at $19.67, with a volume of 1,916,443 shares traded. The stock had previously closed at $19.56.

Specifically, VP Todd Swanson unloaded 4,946 shares of the stock on the open market in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $20.00, for a total transaction of $98,920.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

A number of analysts have recently weighed in on FNSR shares. Analysts at Zacks upgraded shares of Finisar from an “underperform” rating to a “neutral” rating in a research note on Wednesday. They now have a $20.50 price target on the stock. Separately, analysts at Raymond James reiterated a “strong-buy” rating on shares of Finisar in a research note on Tuesday, August 5th. They now have a $27.00 price target on the stock, down previously from $28.00. Finally, analysts at Barrington Research initiated coverage on shares of Finisar in a research note on Friday, July 11th. They set a “market perform” rating on the stock. One investment analyst has rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company. Finisar has an average rating of “Buy” and an average target price of $27.86.

The stock has a 50-day moving average of $19.95 and a 200-day moving average of $23.15. The company has a market cap of $1.915 billion and a P/E ratio of 17.88. Finisar also saw a significant decline in short interest in the month of July. As of July 31st, there was short interest totalling 16,713,633 shares, a decline of 6.9% from the July 15th total of 17,961,597 shares. Based on an average trading volume of 1,325,036 shares, the days-to-cover ratio is currently 12.6 days. Approximately 17.2% of the company’s shares are sold short.

Finisar (NASDAQ:FNSR) last posted its quarterly earnings results on Thursday, June 12th. The company reported $0.36 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.38 by $0.02. The company had revenue of $306.03 million for the quarter, compared to the consensus estimate of $303.92 million. During the same quarter last year, the company posted $0.20 earnings per share. Finisar’s revenue was up 25.7% compared to the same quarter last year. Analysts expect that Finisar will post $1.43 EPS for the current fiscal year.

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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