Fabrinet (FN) Moves Higher on Volume Spike for January 25

Fabrinet (FN) Moves Higher on Volume Spike for January 25

Fabrinet (FN) traded on unusually high volume on Jan. 25, as the stock gained 3.46% to close at $57.76. On the day, Fabrinet saw 858,860 shares trade hands on 6,933 trades. Considering that the stock averages only a daily volume of 426,541 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 $57.01 and $24.02 over the last 52-weeks, its 50-day SMA is now $51.30, and its 200-day SMA $42.69. Fabrinet has a P/B ratio of 2.78. It also has a P/E ratio of 21.6.

Fabrinet is a United States-based company that is principally engaged in providing outsourced manufacturing services to original equipment manufacturers. These OEM customers are mainly companies in complex industries that require precision manufacturing capabilities. The company offers a wide range of optical and electro-mechanical manufacturing capabilities across the whole producing process. It helps its customers to manufacture various products, such as selective switching products, active optical cables, tunable transponders and transceivers, lasers, and sensors. The company generates the majority of revenue from North America and Asia-Pacific, with the rest from Europe.

Headquartered in Grand Cayman, , Fabrinet has 10,579 employees and is currently under the leadership of CEO Seamus Grady.

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