Oclaro (OCLR) : Traders are bullish on Oclaro (OCLR) as it has outperformed the S&P 500 by a wide margin of 15.74% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 9.63%, 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 9.56% in the last 1 week, and is up 19.62% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The stock has recorded a 20-day Moving Average of 10.25% and the 50-Day Moving Average is 14.77%. Oclaro, Inc. is up 13.47% in the last 3-month period. Year-to-Date the stock performance stands at 64.66%.
Oclaro (NASDAQ:OCLR): On Fridays trading session , Opening price of the stock was $5.78 with an intraday high of $5.8. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $5.63. However, the stock managed to close at $5.73, a loss of 0.69% for the day. On the previous day, the stock had closed at $5.77. The total traded volume of the day was 2,217,968 shares.
Also, Needham upgrades their rating on the shares of Oclaro (NASDAQ:OCLR). The current rating of the shares is Strong Buy. Earlier, the shares were rated a Buy by the brokerage firm. The rating by the firm was issued on July 25, 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.