Published: Sat, March 11, 2017
Business | By Sandy Mccarthy

(FNSR) Lowered to Hold at Vetr Inc

(FNSR) Lowered to Hold at Vetr Inc

Analysts await Finisar Corporation (NASDAQ:FNSR) to report earnings on Mar, 09 for the fiscal quarter ending Jan 2017.

Nonetheless, and in the immediate aftermath of reporting, investor reaction in Finisar Corporation (FNSR) stock has proven to be much more bearish.

The sales of datacom products have increased by $7.3 million, or 2.8%, compared to the second quarter.

Out of the 12 analysts polled in the past 12 months, 10 rate Finisar stock a Buy, while 2 rate the stock a Hold.

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Finisar Corporation (Finisar) is a provider of optical subsystems and components that are used in data communication and telecommunication applications. The insider owns 779,464 shares which have current market value of around $27203293.6.Mr. Eitan Gertel is another major inside shareholder in the company. Amalgamated Bank now owns 11,740 shares of the company's stock worth $225,000 after buying an additional 580 shares in the last quarter. The company's stock had a trading volume of 5,525,005 shares. Parametrica Management Ltd purchased a new stake in Finisar Corporation during the third quarter valued at about $224,000. Hedge funds and other institutional investors own 91.48% of the company's stock.

Finisar Corporation (NASDAQ:FNSR) is moving lower ahead of the market open as the stock is gapping down -16.62%. Company's distance from 20 day simple moving average is 1.84% and distance from 50-Day simple moving average is 10.50%. Finisar has a 52-week low of $13.91 and a 52-week high of $36.85. The company forecast Q4 EPS of $0.50 to $0.56, versus analysts' $0.58 estimate, and revenues ranging from $360 to $380 million, versus analysts' $393.09 million outlook.

Revenues jumped 23.1% from past year to $380.6 million, but missed the $389.69 million that analysts expected. The consensus recommendation by Thomson Reuters analysts is Outperform and their mean rating for the stock is 1.62 on scale of 1-5.

FNSR has been the topic of a number of research reports. Zacks Investment Research raised Finisar from a sell rating to a hold rating in a research note on Thursday, February 16th. Finally, Vetr downgraded Finisar Corporation from a "buy" rating to a "hold" rating and set a $35.76 price target on the a research note on Tuesday, February 21st. According to, 6 analysts has covered the stock while recommending a "Strong Buy". Finally, B. Riley Financial Inc. purchased a new stake in Finisar Corporation during the third quarter valued at about $229,000. Two investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of "Buy" and a consensus target price of $38.91. The shares were sold at an average price of $36.19, for a total value of $368,233.25. Following the completion of the sale, the executive vice president now directly owns 105,112 shares in the company, valued at approximately $3,804,003.28.

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