Oclaro (OCLR) : Traders are bullish on Oclaro (OCLR) as it has outperformed the S&P 500 by a wide margin of 39.43% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 7.05%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 7.02% in the last 1 week, and is up 39.96% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Oclaro, Inc. is up 67.51% in the last 3-month period. Year-to-Date the stock performance stands at 110.34%. The stock has recorded a 20-day Moving Average of 16.91% and the 50-Day Moving Average is 33.69%.
Oclaro (NASDAQ:OCLR): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $7.31 and $7.23 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $7.37. The buying momentum continued till the end and the stock did not give up its gains. It closed at $7.32, notching a gain of 0.55% for the day. The total traded volume was 2,661,621 . The stock had closed at $7.28 on the previous day.
Also, Cowen & Company initiates coverage on Oclaro (NASDAQ:OCLR). The shares have now been rated Outperform by the stock experts at the ratings house. The rating by the firm was issued on August 8, 2016.
Oclaro, Inc. is a provider of optical components, modules and subsystems for the optical transport, service provider, enterprise and data center markets. The Company supplies optical network technology to telecommunication and data communication equipment companies across the world. The Company designs, manufactures and markets optical components, modules and subsystems that generate, detect, combine and separate light signals in optical communications networks. Its product offerings include client side transceivers, line side transceivers, tunable laser transmitters, lithium niobate modulators, transponder modules and receivers. The Company supplies optical products, including tunable lasers, external modulators, integrated lasers and modulators and receivers. The Company also supplies products at the module and subsystem levels, including transceivers, transponders and controlled subsystems.