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Ciena Corporation (CIEN) Catches Eye: Stock Jumps 12.8%
Ciena Corporation (CIEN - Free Report) was a big mover last session, as its shares rose almost 13% on the day. The move came on the back of the telecom equipment maker’s strong second-quarter fiscal 2016 results. This led to far more shares changing hands than in a normal session. This continues the recent uptrend for the company as the stock is now up over 21% in the past one-month time frame.
None of the estimates for this stock were revised over the past 30 days. The Zacks Consensus Estimate also remained unchanged over the same time frame. Yesterday’s price action is encouraging though, so make sure to keep a close watch on this firm in the near future.
Ciena Corporation currently has a Zacks Rank #3 (Hold).
A better-ranked stock in the Fiber Optics space is Oclaro, Inc. , with a Zacks Rank #2 (Buy).
Is CIEN going up? Or down? Predict to see what others think: Up or Down
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