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Tale of the Tape

Zacks Equity Research

Weakness Seen in Ciena (CIEN): Stock Declines 6.2%
April 08, 2014


Trades from $3
Ciena Corporation (CIEN - Free Report) saw a big move last session, as the company’s shares fell more than 6% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This continues the recent downtrend for CIEN, as the stock is now down around 15.6% in the past one-month time frame. 

This slump shouldn’t be too much of a surprise to investors, as the company has seen 3 negative revisions in the past few weeks and its current year earnings consensus has moved lower over the last 30 days. This suggests there may be more trouble down the road. So make sure to keep an eye on this stock going forward to see if this recent slump will continue, as the earnings picture definitely suggests that this might be the case.

CIEN currently has a Zacks Rank #3 (Hold) while its Earnings ESP is 0.00%.

Some better-ranked stocks in the technology sector include Alliance Fiber Optic Products Inc. , Dealertrack Technologies, Inc. and MicroStrategy Inc. (MSTR - Free Report) .  All these stocks carry a Zacks Rank #1 (Strong Buy).

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