Ciena CFO James E. Moylan, Jr. Unloads 1,000 Shares (CIEN)
Ciena (NASDAQ:CIEN) CFO James E. Moylan, Jr. unloaded 1,000 shares of the company’s stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $20.88, for a total value of $20,880.00. Following the completion of the sale, the chief financial officer now directly owns 367,337 shares in the company, valued at approximately $7,669,997. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Ciena (NASDAQ:CIEN) traded up 0.24% during mid-day trading on Friday, hitting $20.52. 1,046,803 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 $19.73 and its 200-day moving average is $21.26. The company’s market cap is $2.167 billion. Ciena also saw unusually large options trading on Wednesday. Traders acquired 9,556 put options on the stock. This is an increase of 566% compared to the average daily volume of 1,434 put options.
Ciena (NASDAQ:CIEN) last posted its quarterly earnings results on Thursday, June 5th. The company reported $0.17 earnings per share (EPS) for the quarter, beating the 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 in the previous year, the company posted $0.02 earnings per share. The company’s revenue for the quarter was up 10.3% on a year-over-year basis. On average, analysts predict that Ciena will post $0.95 earnings per share for the current fiscal year.
CIEN has been the subject of a number of recent research reports. 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 company. Ciena has an average rating of “Buy” and a consensus price target of $27.31.
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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