Short Interest Worth Mentioning: How Analysts Feel About Brocade Communications Systems N (NASDAQ:BRCD) After Increase in Sellers?

November 28, 2016 - By Ruchi Gupta   ·   0 Comments

Short Interest Worth Mentioning: How Analysts Feel About Brocade Communications Systems N (NASDAQ:BRCD) After Increase in Sellers?

The stock of Brocade Communications Systems N (NASDAQ:BRCD) registered an increase of 10.45% in short interest. BRCD’s total short interest was 12.01 million shares in November as published by FINRA. Its up 10.45% from 10.87 million shares, reported previously. With 6.12 million shares average volume, it will take short sellers 2 days to cover their BRCD’s short positions. The short interest to Brocade Communications Systems N’s float is 3.01%. The stock closed at $12.38 during the last session. It is down 28.16% since April 25, 2016 and is uptrending. It has outperformed by 22.14% the S&P500.

Brocade Communications Systems, Inc

Insitutional Activity: The institutional sentiment decreased to 0.72 in 2016 Q2. Its down 0.45, from 1.17 in 2016Q1. The ratio worsened, as 45 funds sold all Brocade Communications Systems, Inc. shares owned while 95 reduced positions. 62 funds bought stakes while 102 increased positions. They now own 341.47 million shares or 0.31% more from 340.41 million shares in 2016Q1.
Creative Planning last reported 9,651 shares in the company. Nordea holds 0% or 166,000 shares in its portfolio. Pinnacle Associates Limited owns 26,272 shares or 0.01% of their US portfolio. Blackrock Institutional Tru Na reported 13.96M shares or 0.02% of all its holdings. The California-based Eqis Capital Management has invested 0.02% in Brocade Communications Systems, Inc. (NASDAQ:BRCD). Ls Inv Advsrs Ltd Liability has 0.02% invested in the company for 28,148 shares. Fdx Advisors owns 18,411 shares or 0.01% of their US portfolio. Evanston Inc Dba Evanston Advsrs, a Illinois-based fund reported 718,626 shares. Jacobs Levy Equity Inc holds 0.23% or 1.20M shares in its portfolio. Bancorp Of America De has invested 0.01% of its portfolio in Brocade Communications Systems, Inc. (NASDAQ:BRCD). Fairfield Bush And has invested 0.6% of its portfolio in Brocade Communications Systems, Inc. (NASDAQ:BRCD). Vanguard Group Inc last reported 0.02% of its portfolio in the stock. Proshare Advsr Ltd Liability reported 55,014 shares or 0.01% of all its holdings. Teachers last reported 0.04% of its portfolio in the stock. Gotham Asset Mgmt Limited Liability Com has 0.3% invested in the company for 2.72M shares.

Insider Transactions: Since June 10, 2016, the stock had 0 buys, and 3 sales for $241,510 net activity. The insider ODONNELL ELLEN sold 7,500 shares worth $67,500. England Gale E. sold $101,919 worth of Brocade Communications Systems, Inc. (NASDAQ:BRCD) on Monday, August 22.

Brocade Communications Systems, Inc. (NASDAQ:BRCD) Ratings Coverage

Out of 19 analysts covering Brocade Communications Systems Inc. (NASDAQ:BRCD), 3 rate it a “Buy”, 2 “Sell”, while 14 “Hold”. This means 16% are positive. Brocade Communications Systems Inc. has been the topic of 49 analyst reports since August 19, 2015 according to StockzIntelligence Inc. On Monday, August 24 the stock rating was maintained by William Blair with “Market Perform”. The stock has “Sell” rating given by UBS on Friday, May 20. The firm has “Market Perform” rating given on Friday, August 21 by William Blair. RBC Capital Markets upgraded the stock to “Outperform” rating in Tuesday, November 1 report. Barclays Capital maintained Brocade Communications Systems, Inc. (NASDAQ:BRCD) on Tuesday, August 23 with “Equal-Weight” rating. The rating was downgraded by JP Morgan on Tuesday, November 24 to “Neutral”. The firm has “Sector Perform” rating given on Monday, August 22 by RBC Capital Markets. The stock of Brocade Communications Systems, Inc. (NASDAQ:BRCD) earned “Neutral” rating by Goldman Sachs on Friday, August 21. The stock has “Buy” rating given by Argus Research on Thursday, April 7. The stock of Brocade Communications Systems, Inc. (NASDAQ:BRCD) has “Sell” rating given on Friday, August 26 by UBS.

BRCD Company Profile

Brocade Communications Systems, Inc. (Brocade), incorporated on February 11, 1996, is a supplier of networking equipment, including end-to-end Internet Protocol (IP) Ethernet networking solutions and storage area networking solutions for businesses and organizations of all types and sizes, including global enterprises, and service providers, such as telecommunication firms, cable operators and mobile carriers. Brocade offers a range of networking hardware and software services and products. Brocade services and products are marketed, sold and supported globally to end-user clients through distribution partners, including original equipment manufacturers (OEMs), distributors, systems integrators, value-added resellers (VARs) and directly to end-users by the Brocade direct sales force. The Firm operates in four divisions: Data Storage, Global Services, IP Layer 2-3 and IP Layer 4-7/ Application Delivery Products (IP Layer 4-7/ADP). In September 2014, the Company acquired network visibility and analytics technology assets from privately held Vistapointe.

More notable recent Brocade Communications Systems, Inc. (NASDAQ:BRCD) news were published by: Fool.com which released: “Why Brocade Communications Systems, Inc. Stock Jumped Today” on November 02, 2016, also Prnewswire.com with their article: “Brocade Communications Systems Inc. Acquisition May Not Be in the Best …” published on November 04, 2016, Bloomberg.com published: “Brocade Communications in Advanced Talks to Sell Itself” on October 31, 2016. More interesting news about Brocade Communications Systems, Inc. (NASDAQ:BRCD) were released by: Nasdaq.com and their article: “Earnings Reaction History: Brocade Communications Systems, Inc., 50.0% Follow …” published on November 21, 2016 as well as Prnewswire.com‘s news article titled: “Harwood Feffer LLP Announces Investigation of Brocade Communications Systems, Inc.” with publication date: November 02, 2016.

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By Ruchi Gupta


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