Finisar Corp. (NASDAQ: FNSR) Price Target Raised at Stifel Nicolaus

Finisar Corp. (NASDAQ: FNSR) had its price target boosted by equities researchers at Stifel Nicolaus from $28.00 to $33.00.Stifel Nicolaus currently has a rating of Buy on the shares. A number of other analysts have spoken on the stock recently, and the company has earned a consensus one-year price target of $22.68, lower than the opening price of $25.65, a difference of 8.45 percent. Finisar Corp. stock has a 52-week high of $27.50.

U.S. stocks finished higher on Monday as investor fears for an interest rate hike subsided after Federal Reserve Board Governor Lael Brainard urged caution about removing monetary stimulus too quickly.

The Dow Jones Industrial Average DJIA, +1.32% surged 239.62 points, or 1.3%, to close at 18,325.07, after jumping as high as 273 points.

The S&P 500 SPX, +1.47% rose 31.23 points, or 1.5%, to finish at 2,159.04, with all sectors closing in positive territory.

Meanwhile, the Nasdaq Composite Index COMP, +1.68% finished up 85.98 points, or 1.7%, at 5,211.89, propelled by a rally in biotechnology shares

Stock prices often move to the upside on recommendations and new price targets of professional brokerage firms.

Shares of Finisar Corp. (NASDAQ: FNSR) opened at $25.65 yesterday and traded in a range between, $25.47 and $27.13, and last traded at $26.85, which represents a change of $ 0.65 over the previous closing price.

Finisar Corp. (NASDAQ: FNSR) now has a market cap of 2.96B

The stocks average daily volume is 1,605,650 shares out of a total float 108,855,000 of and some 4,221,480 shares traded hands yesterday, 104 percent higher than normal. Significant increases in trading volume and price appreciation together could signal heavy volume accumulation by institutional investors.

While increased trading for short periods will not mean much will not mean much, conversely, a trend of heavy trading volume on the buy side over a period of days or weeks sends a positive signal to market traders that institutions may be moving in, so institutional sponsorship is very important.

Institutional sponsorship simply refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.

Professional investors such as these retain substantial teams of analysts that research thousands of stocks. Thus, watching their interests is a good way to ensure you are buying the right stocks.

By tracking the activity of these professional investors—and the moving averages they affect—it allows for traders to make more effective decisions on trades.

With that in mind Finisar Corp. (NASDAQ: FNSR) now has a 50-day MA is $20.63 and 200-day MA is $18.00, and it has traded in a 52-week range between $10.66 – 27.50 and today’s last price is -0.02 percent off the 52 week high of $27.50.

Earnings growth is an important factor toresearch when investing in stocks and investors look for companies that have grown their earnings at least 25% or more for the past 3 years.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of BNB Daily News. Readers should not consider statements made by the author as formal recommendations and should consult their financial adviser before making any investment decisions. To read our full disclosure, please see our terms and conditions page.

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