Oplink Communications Sees Significant Decline in Short Interest (OPLK)
Oplink Communications (NASDAQ:OPLK) was the target of a large decrease in short interest in the month of August. As of August 15th, there was short interest totalling 521,754 shares, a decrease of 31.0% from the July 31st total of 756,264 shares, ARN reports. Approximately 3.0% of the shares of the stock are sold short. Based on an average daily volume of 124,460 shares, the days-to-cover ratio is presently 4.2 days.
Several analysts have recently commented on the stock. Analysts at Stifel Nicolaus reiterated a “buy” rating on shares of Oplink Communications in a research note on Friday, August 8th. They now have a $24.00 price target on the stock, up previously from $22.00. Analysts at B. Riley raised their price target on shares of Oplink Communications from $21.00 to $23.00 in a research note on Wednesday, July 30th. They now have a “buy” rating on the stock.
Oplink Communications (NASDAQ:OPLK) opened at 19.00 on Thursday. Oplink Communications has a 52-week low of $13.91 and a 52-week high of $20.09. The stock’s 50-day moving average is $18.68 and its 200-day moving average is $17.37. The company’s market cap is $345.0 million.
Oplink Communications (NASDAQ:OPLK) last announced its earnings results on Thursday, August 7th. The company reported $0.10 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.09 by $0.01. The company had revenue of $51.50 million for the quarter, compared to the consensus estimate of $51.50 million. During the same quarter last year, the company posted $0.24 earnings per share. Oplink Communications’s revenue was up 7.1% compared to the same quarter last year. On average, analysts predict that Oplink Communications will post $1.17 earnings per share for the current fiscal year.
Oplink Communications, Inc designs, manufactures and sells optical networking components and subsystems.
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