Today’s Research Reports on Trending Tickers: Acacia Communications and Oclaro Inc.
U.S. markets eked higher Wednesday to close at a new record high for the second consecutive session. On Wednesday, all three major indexes closed at record highs in the same session for the first time since July 26th. The Dow Jones Industrial Average gained 0.18 percent to close at 22,158.18, while the Nasdaq Composite Index rose 0.09 percent to close at 6,460.19. The S&P 500 Index increased 0.08 percent to close at 2,498.37. The S&P 500 was dragged down by technology stocks, which fell 0.3 percent.
"The real key [for the market] will revolve around whether Technology can strengthen from here given its push up towards highs of its recent range, while Apple starts to show some evidence of peaking out in the short run," said Mark Newton, managing member at Newton Advisors, in a note."
RDI Initiates Coverage on:
Acacia Communications, Inc.
Acacia Communications stock edged 0.67% lower Wednesday, to close the day at $45.92. The stock recorded a trading volume of 615,185 shares, which was above its three months average volume of 446,250 shares. In the last year Acacia Communications shares have traded in a range of 44.00 – 121.86. The stock is currently trading 62.32% below its 52 week high. The company’s shares are currently trading below their 200-day moving average. Moreover, the stock’s 50-day moving average of $45.82 is below its 200-day moving average of $50.46. Shares of Acacia Communications Inc. are trading at a Price to Earnings ratio of 15.70. Shares of Acacia Communications have fallen approximately 25.64 percent year-to-date.
Access RDI’s Acacia Communications, Inc. Research Report at:
On Wednesday, shares in Oclaro recorded a trading volume of 18,314,625 shares, which was above the three months average volume of 7,339,280 shares. The stock ended the day 5.29% higher at 8.95. The share price has gained 29.43% from its 52 week low with a 52 week trading range of 6.91 – 11.30.The company’s shares are currently trading below their 200-day moving average. Moreover, the stock’s 50-day moving average of $8.79 is below its 200-day moving average of $9.10. Shares of the company are trading at a Price to Earnings ratio of 11.62.
Access RDI’s Oclaro Inc. Research Report at:
Our Actionable Research on Acacia Communications, Inc. (NASDAQ:ACIA) and Oclaro Inc. (NASDAQ:OCLR) can be downloaded free of charge at Research Driven Investing.
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