Oclaro Inc. (OCLR) has been one of the best performers amongst all NYSE and NASDAQ listed stocks in the technology sector during morning trading on September 22. At the lunch break, shares of OCLR have risen 4.68% to $9.29 after closing the day prior at $8.87. In the first two and a half hours of trading, the stock has gone as high as $9.32 and as low as $8.82. Today’s rise has come with about 13.92 million shares changing hands, compared to an average 30-day volume of 4.43 million for Oclaro Inc.. The price is currently below the 30-day volume weighted average price of $9.11 for OCLR.
The share appreciation gives the company a market capitalization of $1.31 billion based upon 147.86 million shares outstanding. It also means that OCLR has a price-to-book ratio of 7.87:1.
In the past 52 weeks, shares of OCLR have traded as low as $2.24 and as high as $9.205. Technical traders will take note that at $9.29, shares of OCLR are trading above their 200-day MA at $5.11 and above their 50-day MA at $6.99. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move through or holding above them is typically regarded as bullish.
Who is OCLR?
Oclaro Inc is engaged in providing laser and optical components, modules and subsystems for the telecommunication and data communication equipment companies. The company’s 1689 employees are led by CEO Gregory P. Dougherty from the corporate headquarters at 225 Charcot Avenue in San Jose, CA.
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