Viavi Solutions Inc (NASDAQ:VIAV) shares, rose in value on Friday, November 01, with the stock price up by 7.21% to the previous day’s close as strong demand from buyers drove the stock to $9.89.
Actively observing the price movement in the recent trading, the stock is buoying the session at $9.22, falling within a range of $9.8 and $10.36. Referring to stock’s 52-week performance, its high was $11.32, and the low was $6.60. On the whole, VIAV has fluctuated by 9.71% over the past month.
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With the market capitalization of Viavi Solutions Inc currently standing at about $2.19 billion, investors are eagerly awaiting this quarter’s results, scheduled for on 2025-Jan-30.
Projections by analysts suggest varying estimates for the company’s quarterly revenue. Analysts have estimated the company’s revenue for the quarter at 1.02B, with a low estimate of 235.6M and a high estimate of 256.5M. Wall Street analysts also predicted that the company’s y-o-y revenues would reach 248.6M.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that VIAV’s technical picture suggests that short-term indicators denote the stock is a 100% Buy on average. However, medium-term indicators have put the stock in the category of 100% Buy while long-term indicators on average have been pointing out that it is a 50% Buy.
The stock’s technical analysis shows that the price of VIAV currently trading nearly 6.81% and 12.20% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 70.57, while the 7-day volatility ratio is showing 2.44% which for the 30-day chart, stands at 2.31%. Furthermore, Viavi Solutions Inc (VIAV)’s beta value is 0.90, and its average true range (ATR) is 0.29.
A comparison of Viavi Solutions Inc (VIAV) with its peers suggests the former has fared considerably weaker in the market. VIAV showed an intraday change of 7.21% in today’s session so far, and over the past year, it grew by 29.38%%.
Data on historical trading for Viavi Solutions Inc (NASDAQ:VIAV) indicates that the trading volumes over the past 10 days have averaged 1.49 and over the past 3 months, they’ve averaged 1.53 million. According to company’s latest data on outstanding shares, there are 222.00 million shares outstanding.
Nearly 1.43% of Viavi Solutions Inc’s shares belong to company insiders and institutional investors own 94.83% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 3.97 million shares as on 2024-10-15, resulting in a short ratio of 2.48. According to the data, the short interest in Viavi Solutions Inc (VIAV) stood at 258.00 of shares outstanding as of 2024-10-15; the number of short shares registered in 2024-09-13 reached 4.61 million. The stock has fallen by -1.84% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the VIAV stock heading into the next quarter.
