Ciena Co. (NYSE:CIEN) shares gapped down before the market opened on Wednesday . The stock had previously closed at $30.25, but opened at $30.64. Ciena shares last traded at $31.15, with a volume of 155765 shares changing hands.

A number of research analysts recently weighed in on the stock. Zacks Investment Research reissued a “hold” rating on shares of Ciena in a research report on Monday, November 12th. BMO Capital Markets raised their price target on shares of Ciena from $28.00 to $36.00 and gave the company an “outperform” rating in a research report on Friday, August 31st. Raymond James raised their price target on shares of Ciena from $30.00 to $36.00 and gave the company an “outperform” rating in a research report on Friday, August 31st. Nomura set a $35.00 price target on shares of Ciena and gave the company a “buy” rating in a research report on Friday, August 31st. Finally, William Blair reissued a “buy” rating on shares of Ciena in a research report on Friday, August 31st. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and fourteen have given a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $32.83.

The company has a current ratio of 1.97, a quick ratio of 1.76 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $4.63 billion, a PE ratio of 20.75, a PEG ratio of 1.42 and a beta of 1.21.

Ciena (NYSE:CIEN) last posted its quarterly earnings data on Thursday, August 30th. The communications equipment provider reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.12. Ciena had a net margin of 25.56% and a return on equity of 8.56%. The business had revenue of $818.82 million during the quarter, compared to the consensus estimate of $792.28 million. During the same quarter last year, the company posted $0.51 earnings per share. The firm’s quarterly revenue was up 12.4% compared to the same quarter last year. Analysts forecast that Ciena Co. will post 1.1 earnings per share for the current fiscal year.

In related news, CEO Gary B. Smith sold 9,600 shares of the firm’s stock in a transaction dated Friday, September 7th. The shares were sold at an average price of $31.14, for a total transaction of $298,944.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP James Frodsham sold 2,000 shares of the firm’s stock in a transaction dated Thursday, November 15th. The stock was sold at an average price of $33.09, for a total transaction of $66,180.00. The disclosure for this sale can be found here. Insiders have sold 80,275 shares of company stock valued at $2,499,320 in the last 90 days. 1.38% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently bought and sold shares of the company. Parallel Advisors LLC increased its stake in shares of Ciena by 36,042.9% in the second quarter. Parallel Advisors LLC now owns 5,060 shares of the communications equipment provider’s stock worth $134,000 after purchasing an additional 5,046 shares in the last quarter. Signaturefd LLC increased its stake in shares of Ciena by 484.4% in the second quarter. Signaturefd LLC now owns 5,534 shares of the communications equipment provider’s stock worth $147,000 after purchasing an additional 4,587 shares in the last quarter. CenterStar Asset Management LLC purchased a new position in shares of Ciena in the third quarter worth about $159,000. Moneta Group Investment Advisors LLC increased its stake in shares of Ciena by 102.0% in the second quarter. Moneta Group Investment Advisors LLC now owns 6,140 shares of the communications equipment provider’s stock worth $163,000 after purchasing an additional 3,100 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC purchased a new position in shares of Ciena in the third quarter worth about $198,000.

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About Ciena (NYSE:CIEN)

Ciena Corporation provides hardware, software, and services that support the transport, switching, aggregation, service delivery, and management of voice, video, and data traffic on communications networks worldwide. The company's Networking Platforms segment offers hardware networking solutions optimized for the convergence of coherent optical transport, optical transport network switching, and packet switching.

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