Shares of Brocade Communications Systems (BRCD) Drops by -3.3%

Brocade Communications Systems (BRCD) has risen sharply, recording gains of 1.23% in the past 4 weeks. However, the stock has corrected -3.3% in the past 1 week, providing a good buying opportunity on dips. Brocade Communications Systems (BRCD) : During the past 4 weeks, traders have been relatively bearish on Brocade Communications Systems (BRCD), hence the stock is down -3.01% when compared to the S&P 500 during the same period. However, in the past 1 week, the selling of the stock is down by -4.72% relative to the S&P 500. The stock has recorded a 20-day Moving Average of 0.95% and the 50-Day Moving Average is 4.19%.

Brocade Communications Systems (NASDAQ:BRCD): The stock was completely flat for the day, closing at $9.09 on Friday. The flat closing masks the intraday volatility in the stock. After opening at $9.09, the stock touched an intraday high of $9.14 and a low of $9.01. Neither the bulls nor the bears asserted their supremacy at close, due to which the stock closed completely flat. The stock previously closed at $9.09. The total trading volume on Friday was 5,081,712.


The company Insiders own 1.6% of Brocade Communications Systems shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by -18.01% . Institutional Investors own 73.49% of Brocade Communications Systems shares. During last six month period, the net percent change held by insiders has seen a change of -13.34%. In a related news, The Securities and Exchange Commission has divulged that Odonnell Ellen, officer (SVP & General Counsel) of Brocade Communications Systems Inc, had unloaded 8,129 shares at an average price of $8.87 in a transaction dated on June 10, 2016. The total value of the transaction was worth $72,104.

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.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *

Get Pre-Market Alerts!

Get Pre-Market Analysts' Upgrades, Downgrades, Earnings & Initiations with our FREE daily email newsletter.