Ciena Corporation (CIEN) : On Tuesday, The money flowed into the Ciena Corporation (CIEN) stock with an uptick to downtick ratio was recorded at 2.2. Transactions worth $3.69 million were done on upticks, confirming the buying interest in the stock. The outflow of money on downticks stood at $1.68 million. The total money flow into the stock was $2.01 million. The investors are using every small weakness in the stock to accumulate it, as can be seen in the $2.01 million of block transactions on upticks. The total money flow in block trades was $2.01 million. In terms of price action, Ciena Corporation (CIEN) traded down $0.03 during the session at $21.64. Compared to the previous days closing, the stock was down only by -0.14%. For the week, the stock is 0%, over previous weeks closing.
Also, Citigroup maintains their rating on the shares of Ciena Corporation (NYSE:CIEN). The current rating of the shares is Hold. Equity Analysts at the Firm raises the price target to $23 per share from $21 per share. The rating by the firm was issued on August 25, 2016.
Ciena Corporation has dropped 0.91% in the last five trading days, however, the shares have posted positive gains of 12.94% in the last 4 weeks. Ciena Corporation is up 22.35% in the last 3-month period. Year-to-Date the stock performance stands at 5.03%.
Ciena Corporation (NYSE:CIEN): During Tuesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $21.70 and $21.58 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $21.99. The buying momentum continued till the end and the stock did not give up its gains. It closed at $21.73, notching a gain of 0.28% for the day. The total traded volume was 1,658,354 . The stock had closed at $21.67 on the previous day.
In a related news, The Securities and Exchange Commission has divulged that Locoh-Donou Francois, officer (Chief Operating Officer) of Ciena Corp, had unloaded 10,424 shares at an average price of $22 in a transaction dated on August 16, 2016. The total value of the transaction was worth $229,328.
Ciena Corporation (Ciena) is a provider of communications networking equipment, software and services that support the transport, switching, aggregation and management of voice, video and data traffic. The Company operates in four segments: converged packet optical, packet networking, optical transport, and software and services. Its service provider customers include regional, national and international, wire line and wireless carriers. Its cable operator customers include cable and multiservice operators in the United States and internationally. Its Blue Planet Division provides multi-vendor network management software and service orchestration solutions. Its Blue Planet product portfolio includes software applications, including Planet Orchestrate and Planet Operate, as well as its software-defined networking (SDN) multilayer wide area network (WAN) controller and its applications, V-WAN, Agility Matrix and network management solutions.