Traders Buy High Volume of Ciena Call Options (CIEN)
Ciena (NASDAQ:CIEN) was the recipient of unusually large options trading activity on Thursday. Traders acquired 20,440 call options on the stock, ARN reports. This represents an increase of approximately 419% compared to the typical volume of 3,941 call options.
CIEN has been the subject of a number of recent research reports. Analysts at Cowen and Company cut their price target on shares of Ciena from $32.00 to $31.00 in a research note on Friday, June 6th. Separately, analysts at Wells Fargo & Co. reiterated an “outperform” rating on shares of Ciena in a research note on Thursday, June 5th. Finally, analysts at Citigroup Inc. reiterated a “neutral” rating on shares of Ciena in a research note on Tuesday, June 3rd. They now have a $22.00 price target on the stock, down previously from $25.00. One research analyst has rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $28.27.
Shares of Ciena (NASDAQ:CIEN) traded up 1.44% during mid-day trading on Thursday, hitting $19.04. 4,389,242 shares of the company’s stock traded hands. Ciena has a 52-week low of $18.00 and a 52-week high of $27.94. The stock’s 50-day moving average is $20.26 and its 200-day moving average is $21.. The company’s market cap is $2.010 billion.
Ciena (NASDAQ:CIEN) last posted its quarterly earnings results on Thursday, June 5th. The company reported $0.17 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.13 by $0.04. The company had revenue of $560.10 million for the quarter, compared to the consensus estimate of $559.18 million. During the same quarter last year, the company posted $0.02 earnings per share. Ciena’s revenue was up 10.3% compared to the same quarter last year. Analysts expect that Ciena will post $0.96 EPS for the current fiscal year.
Ciena Corporation (NASDAQ:CIEN) is a provider of communications networking equipment, software and services that support the transport, switching, aggregation and management of voice, video and data traffic.
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