NeoPhotonics Corporation (NPTN) Moves Lower on Volume Spike for January 16

NeoPhotonics Corporation (NPTN) Moves Lower on Volume Spike for January 16

NeoPhotonics Corporation (NPTN) traded on unusually high volume on Jan. 16, as the stock lost 2.93% to close at $6.95. On the day, NeoPhotonics Corporation saw 2.05 million shares trade hands on 7,946 trades. Considering that the stock averages only a daily volume of 742,465 shares a day over the last month, this represents a pretty significant bump in volume over the norm.

Generally speaking, when a stock experiences a sudden spike in trading volume, it may be seen as a bullish signal for investors. An increase in volume means more market awareness for the company, potentially setting up a more meaningful move in stock price. The added volume also provides a level of support and stability for price advances.

The stock has traded between $9.48 and $4.95 over the last 52-weeks, its 50-day SMA is now $7.42, and its 200-day SMA $7.18. NeoPhotonics Corporation has a P/B ratio of 1.99.

NeoPhotonics Corp develops, manufactures, and sells products that transmit, receive, and switch high speed digital optical signals for communications networks. NeoPhotonics’ products are offered under segments High Speed Products and Network Products and Solutions. Traditionally, products from the High Speed Products segment have been used at high data rates for telecom, datacenter, or content provider networks and applications. Alongside these products, the company offers products for lower data rates in addition to passive optical products that do not have a specific data rate. Products manufactured and developed by NeoPhotonics include transmitter products, receiver products, and switch products. The company sells its slate of products globally.

Headquartered in San Jose, CA, NeoPhotonics Corporation has 1,783 employees and is currently under the leadership of CEO Timothy Jenks.

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