Finisar Corporation (FNSR) : Traders are getting increasingly bearish on Finisar Corporation (FNSR), as can be seen in the addition of short positions from 6,412,671 on Jul 29, 2016, to 6,638,393 on August 15, 2016. The net change in shorts is 225,722 shares, an increase of 3.5%. 6 days remain before the expiry. The 6.2% of outstanding short positions on the stock compared to its float, shows that traders expect the stock to fall from the current levels. The daily volume of the stock is 1,108,857. The short interest information was released on Wednesday Aug 24th after the market close.
Finisar Corporation (NASDAQ:FNSR): The stock opened at $20.85 on Wednesday but the bulls could not build on the opening and the stock topped out at $21.09 for the day. The stock traded down to $20.67 during the day, due to lack of any buying support eventually closed down at $20.71 with a loss of -1.15% for the day. The stock had closed at $20.95 on the previous day. The total traded volume was 540,671 shares.
In a related news, The Securities and Exchange Commission has divulged that Eng Julie Sheridan, officer (EVP Datacom Engineering) of Finisar Corp, had unloaded 178 shares at an average price of $20 in a transaction dated on August 15, 2016. The total value of the transaction was worth $3,560.
Finisar Corporation (Finisar) is a provider of optical subsystems and components that are used in data communication and telecommunication applications. The Companys optical subsystems consist of transmitters, receivers, transceivers, transponders, optical engines and active optical cables that provide the fundamental optical-electrical, or optoelectronic, interface for interconnecting the electronic equipment used in communication networks, including the switches, routers and servers used in wireline networks, as well as the antennas and base stations used in wireless networks. These products rely on the use of semiconductor lasers and photodetectors in conjunction with integrated circuits and optoelectronic packaging to provide a means for transmitting and receiving digital signals over fiber optic cable at speeds ranging from less than one gigabit per second, to more than 100 gigabits per second, over distances of less than 10 meters to more than 2,000 kilometers.