Shares of Ciena Corporation (Nasdaq:CIEN) were gapping down Thursday morning with an open price 11.2% lower than Wednesday's closing price. The stock closed at $16.72 yesterday and opened today's trading at $14.84.
Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model NEW YORK ( TheStreet) -- Shares of Ciena Corporation (Nasdaq: CIEN) were gapping down Thursday morning with an open price 11.2% lower than Wednesday's closing price. The stock closed at $16.72 Wednesday and opened today's trading at $14.84.
The average volume for Ciena has been 5.6 million shares per day over the past 30 days. Ciena has a market cap of $1.69 billion and is part of the technology sector and telecommunications industry. Shares are up 38.2% year to date as of the close of trading on Wednesday. Ciena Corporation provides equipment, software, and service solutions that support the transport, switching, aggregation, and management of voice, video, and data traffic on communications networks worldwide. TheStreet Ratings rates Ciena as a hold. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, good cash flow from operations and solid stock price performance. However, as a counter to these strengths, we find that the company's profit margins have been poor overall. You can view the full Ciena Ratings Report. Get more investment ideas from our investment research center.