Opnext drops 4.5% on high volatility

Opnext (OPXT.O), NASDAQ’s 11th largest lasers systems & components company by market capitalisation, traded between an intraday low of 83.03c and a high of 92.0c, suggesting a trading opportunity between peaks and troughs. The average daily volatility of 7.5% places the stock in the 1st quartile in the market meaning it is highly volatile. Today its volatility (highest price minus lowest price/lowest price) of 10.8% was 7.4 times the average daily volatility of 1.5%, up from 8.2% on Tuesday and 4.6% on Monday. A price fall on high volatility is a bearish signal. The stock price dropped 4.06c (or 4.5%) to close at 85.95c. Compared with the NASDAQ-100 index, which fell 32.9 points (or 1.4%) on the day, this was a relative price change of -3.1%.

PRICE DYNAMICS
Price Change % 1-day 1-month 1-year OPXT -4.51% -11.39% -51.71% Lasers Systems & Components -1.68% 0.6% -7.81% NASDAQ-100 -1.44% 1.71% 0.65%

% Premium to low: the last price is at a premium of 3.6% to the 12-month low of 83.0c seven-days ago on 14 Dec, 2011.

Volume weighted price (VWP): the price is at a discount of 10.0% to the 1-month volume weighted average price of 95.49c, which may appeal as a value proposition.

Falls to Rises: In the last three months the number of falls outnumbered rises 35:26 or 1.35:1.

Beta: The Beta of this stock is 1.87. A Beta greater than 1 suggests this is a high risk, high return stock with volatility greater than that of the market.

Standard Deviation (SD): SD is a statistical measure of deviation from the mean. The SD of 5.8% gives it a percentile rank of 93 meaning that 93% of stocks in the NASDAQ market are less volatile than this stock.

Trailing month: in the last 21 trading sessions there has been a net decline of 11.85%; the stock has retreated 12 times and the biggest one day decline was 9.8% on Dec 13.

AGGREGATE VOLUMES, PRICES AND TURNOVER PERIOD

[Volume Index or VI in brackets; 1 is average]

NASDAQ: OPXT.O 344,742 [VI of 0.3]; volume 91.46% of aggregate. Price: 85.95c.

BATS: OPXT.BATS 32,178 [VI of 0.3]; volume 8.54% of aggregate. Price: 86.0c.

Aggregate volume: there were 376,920 shares worth US$323,979 traded. The aggregate volume was 0.3 times average trading of 1,219,638 shares.