Finisar Sees Unusually High Options Volume (FNSR)
Finisar (NASDAQ:FNSR) saw unusually large options trading activity on Thursday. Stock traders purchased 7,757 call options on the company, ARN reports. This is an increase of 853% compared to the average daily volume of 814 call options.
In other Finisar news, VP Todd Swanson sold 4,946 shares of the stock on the open market in a transaction dated Monday, August 11th. The shares were sold at an average price of $20.00, for a total value of $98,920.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Several analysts have recently commented on the stock. Analysts at RBC Capital reiterated an “outperform” rating on shares of Finisar in a research note on Tuesday. They now have a $21.00 price target on the stock, down previously from $23.00. Separately, analysts at Zacks upgraded shares of Finisar from an “underperform” rating to a “neutral” rating in a research note on Wednesday, August 13th. They now have a $20.50 price target on the stock. Finally, 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. One investment analyst has rated the stock with a sell rating, three have given a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. Finisar presently has an average rating of “Buy” and a consensus price target of $27.05.
Shares of Finisar (NASDAQ:FNSR) traded up 3.37% on Thursday, hitting $20.55. The stock had a trading volume of 1,770,667 shares. Finisar has a 52-week low of $18.96 and a 52-week high of $28.85. The stock has a 50-day moving average of $19.98 and a 200-day moving average of $23.04. The company has a market cap of $2.000 billion and a price-to-earnings ratio of 18.17.
Finisar (NASDAQ:FNSR) last announced its 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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