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Buyers Accumulate Shares of Finisar, Up 2.1%

Published on Tue, 02/19/2013 - 11:29
By Adrienne Chilton

One of today's notable stocks on the rise is Finisar (NASDAQ:FNSR), up 2.1% to $16.91. The Dow is up 0.4% to 14,033 and the S&P is currently up 0.4% to 1,526.

There is potential upside of 3.3% for shares of Finisar based on a current price of $16.91 and an average consensus analyst price target of $17.47. The stock should discover initial support at its 50-day moving average (MA) of $15.33 and subsequent support at its 200-day MA of $14.10.

Finisar Corporation provides fiber optic subsystems and network performance test systems which enable high-speed data communications over local area network and storage area networks. The Company's line of optical subsystems supports a variety of network applications, transmission speeds, distances, and mediums. Finisar also provides network performance test systems.

In the past 52 weeks, shares of Finisar have traded between a low of $10.95 and a high of $23.50 and are now at $16.91, which is 54% above that low price. The 200-day and 50-day moving averages have moved 0.04% lower and 1.79% higher over the past week, respectively.

By Adrienne Chilton
achilton@fnno.com