Brocade Communications Systems (NASDAQ:BRCD), According to the latest information the short interest in Brocade Communications Systems, Inc. shot up by 23.9% or 3,466,495 shares. The final shorts are 3.9% of the total floated shares. The positions increased from 14,532,415 shares on May 31,2016 to 17,998,910 on June 15,2016. According to the per-day average trading of 10,817,254 shares, the days to cover are 2. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.
Brocade Communications Systems (NASDAQ:BRCD): The stock opened at $9.12 on Friday but the bulls could not build on the opening and the stock topped out at $9.24 for the day. The stock traded down to $8.88 during the day, due to lack of any buying support eventually closed down at $8.88 with a loss of -7.02% for the day. The stock had closed at $9.55 on the previous day. The total traded volume was 10,154,808 shares.
The company shares have dropped -25.06% from its 1 Year high price. On Jun 29, 2015, the shares registered one year high at $12.20 and the one year low was seen on Jan 20, 2016. The 50-Day Moving Average price is $8.61 and the 200 Day Moving Average price is recorded at $9.02.
Brocade Communications Systems (NASDAQ:BRCD) has tumbled 1.11% during the past week, however, the bigger picture is still very bullish; the stocks have advanced and posted positive gains of 3.26% in the last four weeks. In the past week, the company has outperformed the S&P 500 by 0.53% and the outperformance has advanced to 6.38% for the last 4 weeks period.
Brocade Communications Systems, Inc. (Brocade) is a supplier of networking equipment, including end-to-end Internet Protocol-based Ethernet networking solutions and storage area networking solutions for businesses and organizations of all types and sizes, including global enterprises, and service providers, such as telecommunication firms, cable operators and mobile carriers. Brocade offers networking hardware and software products and services. Its products and services are marketed, sold and supported globally to end-user customers through distribution partners, including original equipment manufacturers, distributors, systems integrators, value-added resellers and directly to end-users by the Brocade direct sales force. The Company operates in four segments: Data Storage, Global Services, IP Layer 2-3 and IP Layer 4-7/ Application Delivery Products.