In today’s session Ciena Corporation (CIEN) registered an unusually high (1,728) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the October, 2016 call, expecting serious CIEN increase. With 1,728 contracts traded and 209204 open interest for the Oct, 16 contract, it seems this is a quite bullish bet. The option with symbol: CIEN161021C00023000 closed last at: $0.35 or 0% . The stock decreased 0.47% or $0.1 during the last trading session, hitting $21.19. About 2.59 million shares traded hands. Ciena Corporation (NYSE:CIEN) has risen 1.43% since March 1, 2016 and is uptrending. It has underperformed by 7.81% the S&P500.
Ciena Corporation (NYSE:CIEN) Ratings Coverage
Out of 11 analysts covering Ciena (NYSE:CIEN), 7 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 64% are positive. $29.75 is the highest target while $17 is the lowest. The $24.89 average target is 17.46% above today’s ($21.19) stock price. Ciena has been the topic of 26 analyst reports since August 18, 2015 according to StockzIntelligence Inc. As per Monday, September 5, the company rating was maintained by Deutsche Bank. The firm earned “Neutral” rating on Friday, June 3 by Citigroup. The firm earned “Hold” rating on Friday, December 11 by Deutsche Bank. As per Monday, August 29, the company rating was maintained by Deutsche Bank. The stock of Ciena Corporation (NYSE:CIEN) earned “Neutral” rating by Citigroup on Wednesday, January 27. RBC Capital Markets maintained Ciena Corporation (NYSE:CIEN) rating on Friday, December 11. RBC Capital Markets has “Outperform” rating and $25.0 price target. The firm earned “Buy” rating on Friday, June 3 by Jefferies. The rating was maintained by Citigroup with “Neutral” on Friday, September 2. As per Friday, September 2, the company rating was downgraded by Morgan Stanley. The firm earned “Hold” rating on Monday, December 14 by Jefferies.
Insitutional Activity: The institutional sentiment is 0.91 in Q2 2016. Its the same as in 2016Q1. The ratio is without change, as 46 funds sold all Ciena Corporation shares owned while 91 reduced positions. only 47 funds bought stakes while 77 increased positions. They now own 126.21 million shares or 7.77% less from 136.85 million shares in 2016Q1.
Moreover, California Employees Retirement has 0.01% invested in Ciena Corporation (NYSE:CIEN) for 365,870 shares. Blackrock Grp Inc last reported 241,691 shares in the company. American Century Cos Inc last reported 1.32 million shares in the company. Moreover, Dupont Cap has 0.01% invested in Ciena Corporation (NYSE:CIEN) for 29,538 shares. Stifel Fincl has invested 0.01% of its portfolio in Ciena Corporation (NYSE:CIEN). Alyeska Investment Gru Limited Partnership has 1.82M shares for 0.35% of their US portfolio. Primecap Mngmt Company Ca holds 0.01% or 520,027 shares in its portfolio. Tower Research Cap Ltd (Trc) last reported 30,319 shares in the company. Rice Hall James & Associate Limited Liability Corporation last reported 0.13% of its portfolio in the stock. Capwealth Advsrs Ltd Com holds 0% of its portfolio in Ciena Corporation (NYSE:CIEN) for 110 shares. Bnp Paribas Arbitrage Sa last reported 165,195 shares in the company. Pinnacle Advisory Group Incorporated last reported 13,904 shares in the company. Moreover, Blackrock Japan Com Limited has 0% invested in Ciena Corporation (NYSE:CIEN) for 1,120 shares. Financial Svcs has 11,150 shares for 0.12% of their US portfolio. Arizona State Retirement System owns 57,632 shares or 0.02% of their US portfolio.
Insider Transactions: Since April 7, 2016, the stock had 0 insider buys, and 47 sales for $4.41 million net activity. Rothenstein David M sold $55,127 worth of stock. The insider Locoh-Donou Francois sold $69,048. 2,000 shares were sold by MOYLAN JAMES E JR, worth $32,640 on Thursday, May 19. Shares for $335,500 were sold by SMITH GARY B on Tuesday, June 14. $57,465 worth of Ciena Corporation (NYSE:CIEN) was sold by FRODSHAM JAMES on Wednesday, September 21. On Wednesday, September 21 the insider ALEXANDER STEPHEN B sold $48,584. Starke Marcus H sold $225,587 worth of Ciena Corporation (NYSE:CIEN) on Monday, June 6.
Ciena Corporation is a network specialist that focuses on providing communications networking solutions. The company has a market cap of $2.88 billion. The Firm operates through four divisions: Converged Packet Optical, Packet Networking, Optical Transport, and Software and Services. It has a 190.49 P/E ratio. The Company’s Converged Packet Optical portfolio includes networking solutions optimized for the convergence of coherent optical transport, optical transport network switching and packet switching.
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