Oclaro, Inc. (OCLR) saw a big move last session, as the company’s shares fell by nearly 7% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading below the volatile price range of $2.15 to $2.30 since Jun 5, 2014.
The fiber optics company has seen a flat record when it comes to current year estimate revisions over the past few weeks (0 increases, 0 decreases), and the consensus for earnings hasn’t been in a trend either. This recent price action is discouraging, so make sure to keep a close watch on this firm in the near future, and especially on earnings estimates following the recent slump.
OCLR currently has a Zacks Rank #4 (Sell) while its Earnings ESP is 0.00%.
Some better-ranked stocks in the same sector include Advanced Micro Devices, Inc. (AMD), AU Optronics Corp. (AUO), with a Zacks Rank #1 (Strong Buy) and Ciena Corporation (CIEN), holding a Zacks Rank #2 (Buy).
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OCLARO INC (OCLR): Free Stock Analysis Report
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