Ciena Corporation (CIEN) Breaks into New 52-Week High on January 18 Session

Equities Staff  |

Shares of Ciena Corporation (CIEN) broke into a new 52-week high yesterday, hitting a peak of $38.73. Shares closed at $38.50 after opening at $38.42 for a move of 1.21%. The company now has a market cap of $6.02 billion.

Investors and traders can learn a lot about a stock’s momentum when it sets a new 52-week high. As an example, bullish investors view a company hitting its highest price in a year as a sign of momentum and may interpret it as a signal to buy. On the other hand, bearish investors could view a new 52-week high as a signal of the end of a strong run, with the stock possibly peaking out before an impending period of decline.

For Ciena Corporation, the new 52-week high came on volume of 1.98 million. The stock has a float of 156.48 million shares and average daily volume of $3.19 million. It has a 50-day SMA of $33.60 and a 200-day SMA of $28.79.

For a complete fundamental analysis analysis of Ciena Corporation, check out Equities.com’s Stock Valuation Analysis report for CIEN.

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Ciena Corp is a network strategy and technology company. It provides network hardware, software, and services that support the transport, switching, aggregation, service delivery and management of video, data, and voice traffic on communications networks. It serves various industries such as communication services providers, web-scale providers, cable operators, government, and large enterprises worldwide. The business activities are functioned through Networking Platforms, Software and Software-Related Services, and Global Services segments. Geographically, its presence is seen in the markets of the United States and Canada; Caribbean and Latin America; Europe, the Middle East and Africa; and Asia-Pacific and India.

Ciena Corporation is based out of Hanover, MD and has some 6,013 employees. Its CEO is Gary B. Smith.

Ciena Corporation is also a component of the Russell 2000 Index, which is an invaluable tool for any small-cap investor. Consisting of the smaller 2,000 publicly traded companies of the 3,000 largest companies in America by market cap (which combine to make the broader Russell 3000 index), the Russell 2000 gives the most comprehensive snapshot of the small-cap market of any index out there.

What's more, the Russell 2000 is maintained by Russell Investments, a company committed to using rules-based methodologies to construct unbiased indices that differ from the committee-selected Dow Jones Industrial Average or S&P 500.

To get more information on Ciena Corporation and to follow the company’s latest updates, you can visit the company’s profile page here: CIEN’s Profile. For more news on the financial markets and emerging growth companies, be sure to visit Equities.com’s Newsdesk. Also, don’t forget to sign-up for our daily email newsletter to ensure you don’t miss out on any of our best stories.

All data provided by QuoteMedia and was accurate as of 4:30PM ET.



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