Ciena Target of Unusually High Options Trading (CIEN)
Ciena (NASDAQ:CIEN) was the recipient of some unusual options trading activity on Wednesday. Stock traders purchased 9,556 put options on the stock, Analyst RN reports. This represents an increase of 566% compared to the average daily volume of 1,434 put options.
In other Ciena news, SVP Stephen B. Alexander unloaded 3,500 shares of Ciena stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $19.18, for a total value of $67,130.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Several analysts have recently commented on the stock. Analysts at RBC Capital cut their price target on shares of Ciena from $24.00 to $21.00 in a research note on Tuesday, August 19th. They now have a “sector perform” rating on the stock. Separately, analysts at Zacks downgraded shares of Ciena from an “outperform” rating to a “neutral” rating in a research note on Monday, August 18th. They now have a $20.00 price target on the stock. Finally, 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. One analyst has rated the stock with a sell rating, seven have given a hold rating and ten have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $27.31.
Ciena (NASDAQ:CIEN) traded down 0.68% during mid-day trading on Wednesday, hitting $20.60. The stock had a trading volume of 2,586,144 shares. 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 $19.82 and its 200-day moving average is $21.28. The company’s market cap is $2.175 billion.
Ciena (NASDAQ:CIEN) last released its earnings data 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 $0.95 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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