Ciena Corporation (CIEN) Moves Lower on Volume Spike for March 06

Equities Staff  |

Ciena Corporation (CIEN) traded on unusually high volume on Mar. 06, as the stock lost 1.82% to close at $39.97. On the day, Ciena Corporation saw 5.11 million shares trade hands on 28,119 trades. Considering that the stock averages only a daily volume of 2.62 million shares a day over the last month, this represents a pretty significant bump in volume over the norm.

Generally speaking, when a stock experiences a sudden spike in trading volume, it may be seen as a bullish signal for investors. An increase in volume means more market awareness for the company, potentially setting up a more meaningful move in stock price. The added volume also provides a level of support and stability for price advances.

The stock has traded between $40.16 and $22.43 over the last 52-weeks, its 50-day SMA is now $38.10, and its 200-day SMA $30.97. Ciena Corporation has a P/B ratio of 3.24.

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.

Headquartered in Hanover, MD, Ciena Corporation has 6,013 employees and is currently under the leadership of CEO Gary B. Smith.

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

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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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