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Tale of the Tape

Zacks Equity Research

Investors are Betting Against Ciena Corporation (CIEN), Should You?
August 29, 2013

CIEN

Trades from $3
Many investors appear to be quite bearish on Ciena Corporation (CIEN - Free Report) , especially if you look at the percentage of the float that is sold short for this stock. Currently, 20.82% of the float is sold short, suggesting an extreme level of bearishness for CIEN.

However, it is worth noting that earnings estimates have actually been moving higher for the company, despite the pessimism. Thanks to these rising estimates, we actually have a Zacks Rank #2(Buy) on CIEN, so we clearly don’t believe in the negativity surrounding this firm, and are instead looking for shares of CIEN to move higher in the weeks ahead.

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