Is Ciena Corporation a Sell? The Stock Had Bearish Options Activity Today


 Is Ciena Corporation a Sell? The Stock Had Bearish Options Activity Today

In today’s session Ciena Corporation (CIEN) recorded an unusually high (2,504) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the October, 2016 put, expecting serious CIEN decrease. With 2,504 contracts traded and 119514 open interest for the Oct, 16 contract, it seems this is a quite bearish bet. The option with symbol: CIEN161021P00020000 closed last at: $0.18 or 10% down. About 203,330 shares traded hands. Ciena Corporation (NYSE:CIEN) has risen 19.37% since March 15, 2016 and is uptrending. It has outperformed by 13.89% 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 21.59% above today’s ($20.47) stock price. Ciena has been the topic of 26 analyst reports since August 18, 2015 according to StockzIntelligence Inc. The company was upgraded on Monday, December 21 by Jefferies. The rating was initiated by Northland Capital on Tuesday, August 18 with “Market Perform”. The firm has “Hold” rating given on Friday, September 2 by Drexel Hamilton. The rating was upgraded by Morgan Stanley to “Overweight” on Tuesday, January 12. The stock has “Hold” rating given by Citigroup on Thursday, August 25. The firm has “Hold” rating by Jefferies given on Monday, December 14. The rating was upgraded by Raymond James on Wednesday, August 26 to “Mkt Perform”. The firm has “Equal-Weight” rating by Morgan Stanley given on Friday, October 9. Jefferies maintained the shares of CIEN in a report on Friday, June 3 with “Buy” rating. The company was maintained on Friday, September 2 by Dougherty & Company.

According to Zacks Investment Research, “Ciena Corporation is the network specialist, focused on expanding the possibilities for its customers’ networks while reducing their cost of ownership. The Company’s systems, software and services target and cure specific network pain points so that telcos, cable operators, governments and enterprises can best exploit the new applications that are driving their businesses forward.”

Insitutional Activity: The institutional sentiment is 0.91 in Q2 2016. Its the same as in 2016Q1. The ratio is the same, 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.
Teachers Retirement Systems Of The State Of Kentucky has 28,442 shares for 0.01% of their US portfolio. Emerald Advisers Pa last reported 0.61% of its portfolio in the stock. Moreover, Los Angeles Mngmt And Equity Rech Inc has 0% invested in Ciena Corporation (NYSE:CIEN) for 22,097 shares. Moreover, Swiss Natl Bank has 0.01% invested in Ciena Corporation (NYSE:CIEN) for 223,400 shares. Plante Moran Financial Advisors Limited Liability Co has 0.01% invested in the company for 1,000 shares. Jacobs Levy Equity Mgmt accumulated 0.22% or 564,300 shares. Credit Agricole S A holds 7,927 shares or 0% of its portfolio. Commonwealth Of Pennsylvania School Empls Retrmt System last reported 0.01% of its portfolio in the stock. Amalgamated Comml Bank reported 16,448 shares or 0.02% of all its holdings. John G Ullman And Associate Incorporated has 170,500 shares for 0.66% of their US portfolio. Suntrust Banks holds 19,596 shares or 0% of its portfolio. Trexquant Invest Lp last reported 0.25% of its portfolio in the stock. Cipher Capital Lp holds 0.16% of its portfolio in Ciena Corporation (NYSE:CIEN) for 121,392 shares. Moreover, Manufacturers Life Co The has 0.01% invested in Ciena Corporation (NYSE:CIEN) for 263,582 shares. Tower Research (Trc) holds 0.05% of its portfolio in Ciena Corporation (NYSE:CIEN) for 30,319 shares.

Insider Transactions: Since April 21, 2016, the stock had 0 insider purchases, and 47 selling transactions for $4.53 million net activity. Shares for $41,460 were sold by MOYLAN JAMES E JR. ALEXANDER STEPHEN B sold $72,940 worth of stock. 2,000 shares with value of $39,140 were sold by Rothenstein David M on Friday, July 15. FRODSHAM JAMES also sold $57,465 worth of Ciena Corporation (NYSE:CIEN) shares. SMITH GARY B sold $286,572 worth of stock. $34,041 worth of shares were sold by Starke Marcus H on Wednesday, September 21. $235,943 worth of Ciena Corporation (NYSE:CIEN) shares were sold by Locoh-Donou Francois.

Ciena Corporation is a network specialist that focuses on providing communications networking solutions. The company has a market cap of $2.77 billion. The Firm operates through four divisions: Converged Packet Optical, Packet Networking, Optical Transport, and Software and Services. It has a 184.02 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.

CIEN Company Profile

Ciena Corporation (Ciena), incorporated on November 2, 1992, is a well-known provider of communications networking equipment, software and services that support the transport, switching, aggregation and management of voice, video and data traffic. The Company’s packet-optical transport, packet-optical switching and carrier Ethernet service delivery products are used, individually or as part of an integrated solution, in networks operated by communications service providers, cable operators, governments and enterprises globally. The Company’s communications networking products, through their embedded software and its network management software suites, enable network operators to deliver enterprise and consumer-oriented communication services. The Firm operates in four divisions: converged packet optical, packet networking, optical transport, and software and services. The Company’s service well-known provider clients include regional, national and international, wire line and wireless carriers. The Company’s cable operator clients include cable and multiservice operators in the United States and internationally. The Company’s enterprise clients include multi-site commercial organizations, including participants in the financial, healthcare, transportation, utilities and retail industries. The Company’s government clients include federal and state agencies in the United States, as well as government entities outside of the United States.

Another recent and important Ciena Corporation (NYSE:CIEN) news was published by which published an article titled: “Ciena Corporation (CIEN) Options Volume Swells as Sector Weighs” on October 12, 2016.

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