Ciena Corporation June 15th Short Interest Update

Ciena Corporation (NYSE:CIEN) stated loss of 976,715 shares or 7.9% in the short interest. The short interest registered from 12,344,746 on May 31,2016 to 11,368,031 on June 15,2016. In terms of floated shares, the shorted positions stood at 8.5%. The stock has been averaging 4,950,567 shares daily in trading and would need 2 days to cover the shorts. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.

Ciena Corporation (NYSE:CIEN): The stock opened at $19.50 on Friday but the bulls could not build on the opening and the stock topped out at $19.79 for the day. The stock traded down to $19.08 during the day, due to lack of any buying support eventually closed down at $19.11 with a loss of -7.19% for the day. The stock had closed at $20.59 on the previous day. The total traded volume was 6,179,695 shares.

The company shares have dropped -19.33% from its 1 Year high price. On Jul 24, 2015, the shares registered one year high at $26.50 and the one year low was seen on May 13, 2016. The 50-Day Moving Average price is $18.56 and the 200 Day Moving Average price is recorded at $18.58.

Ciena Corporation (NYSE:CIEN) has tumbled 7.46% during the past week, however, the bigger picture is still very bullish; the stocks have advanced and posted positive gains of 11.11% in the last four weeks. The stocks have underperformed the S&P 500 by 5.92% during the past week but Ciena Corporation (NYSE:CIEN) it has outperformed the index in 4 weeks by 14.47%.

Ciena Corporation (Ciena) is a provider of communications networking equipment, software and services that support the transport, switching, aggregation and management of voice, video and data traffic. The Company operates in four segments: converged packet optical, packet networking, optical transport, and software and services. Its service provider customers include regional, national and international, wire line and wireless carriers. Its cable operator customers include cable and multiservice operators in the United States and internationally. Its Blue Planet Division provides multi-vendor network management software and service orchestration solutions. Its Blue Planet product portfolio includes software applications, including Planet Orchestrate and Planet Operate, as well as its software-defined networking (SDN) multilayer wide area network (WAN) controller and its applications, V-WAN, Agility Matrix and network management solutions.

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