The stock of MRV Communications, Inc. (NASDAQ:MRVC) hit a new 52-week low and has $6.54 target or 11.00% below today’s $7.35 share price. The 8 months bearish chart indicates high risk for the $47.44 million company. The 1-year low was reported on Nov, 9 by Barchart.com. If the $6.54 price target is reached, the company will be worth $5.22M less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 17,011 shares traded hands. MRV Communications, Inc. (NASDAQ:MRVC) has declined 21.67% since April 7, 2016 and is downtrending. It has underperformed by 26.46% the S&P500.
According to Zacks Investment Research, “MRV Communications, Inc. is a leading manufacturer and marketer of optical high speed networks that integrate switching, routing, remote access and fiber optic transmission systems. The company designs, manufactures and sells two groups of products: computer networking products, primarily Ethernet LAN routing switches, WAN and remote access devices and fiber optic components for the transmission of voice, video, and data across enterprise, telecommunications and cable TV networks.”
Insitutional Activity: The institutional sentiment decreased to 0.37 in 2016 Q2. Its down 0.50, from 0.87 in 2016Q1. The ratio fall, as 7 funds sold all MRV Communications, Inc. shares owned while 12 reduced positions. 0 funds bought stakes while 7 increased positions. They now own 2.71 million shares or 2.50% less from 2.78 million shares in 2016Q1.
Spark Inv holds 45,600 shares or 0.05% of its portfolio. Moreover, Blackrock Advisors Ltd Limited Liability Company has 0% invested in MRV Communications, Inc. (NASDAQ:MRVC) for 422 shares. Blackrock Invest Mgmt Llc reported 807 shares or 0% of all its holdings. The Florida-based Ladenburg Thalmann Financial has invested 0% in MRV Communications, Inc. (NASDAQ:MRVC). Raging Cap Management Lc owns 2.14M shares or 3.71% of their US portfolio. National Bank Of America Corp De last reported 0% of its portfolio in the stock. Geode Cap Limited Liability owns 25,478 shares or 0% of their US portfolio. Northern Trust owns 16,452 shares or 0% of their US portfolio. Vanguard Gru last reported 0% of its portfolio in the stock. Blackrock Fund Advsr has invested 0% of its portfolio in MRV Communications, Inc. (NASDAQ:MRVC). Blackrock Institutional Tru Na accumulated 0% or 8,480 shares. Jbf Capital Inc, a Colorado-based fund reported 1,800 shares. Creative Planning holds 0% of its portfolio in MRV Communications, Inc. (NASDAQ:MRVC) for 837 shares. California Public Employees Retirement Sys has invested 0% of its portfolio in MRV Communications, Inc. (NASDAQ:MRVC). Morgan Stanley has 0% invested in the company for 21,149 shares.
More recent MRV Communications, Inc. (NASDAQ:MRVC) news were published by: Businesswire.com which released: “MRV Communications and Sandvine to Demonstrate NFV-based Next Generation …” on November 03, 2016. Also Businesswire.com published the news titled: “MRV Communications Chosen as a Finalist in the Fierce Innovation Awards 2016 …” on November 03, 2016. Businesswire.com‘s news article titled: “MRV Communications, Inc. Agrees to Sell Source Photonics, Inc. Business Unit …” with publication date: October 27, 2010 was also an interesting one.
MRVC Company Profile
MRV Communications, Inc. (MRV), incorporated on March 9, 1992, is a supplier of communications solutions to telecommunications service providers, enterprises and governments throughout the world. The Company’s products enable clients to provide high-bandwidth data, and video services and mobile communications services. The Firm operates through Network Equipment segment. The Company’s Network Equipment segment designs, makes, sells and services equipment used by commercial customers, governments and telecommunications service providers. The Company’s products include switches, optical transport platforms, physical layer products and out-of-band management products, and specialized networking products. MRV markets and sells its products, through a variety of channels, which include a direct sales force, manufacturers’ representatives, value-added-resellers, distributors and systems integrators.
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