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Ciena Corporation (NASDAQ:CIEN) shares up by 17.41%

Boston, MA 06/07/2013 (wallstreetpr) – The share prices of Ciena Corporation (NASDAQ:CIEN) had surged by 17.41 percent to close at $19.15 per share for the end of last trading session on Thursday. The shares of the company had recorded a intraday low price of $18.17 per share and an intraday high price of $19.19 per share. With this recent surge in share prices, Ciena Corporation (NASDAQ:CIEN) had hit new 52 week high price level at $19.19 per share, while the 52 week low price level of the company is at $11.95 per share.

Ciena Corporation (NASDAQ:CIEN) is primarily engaged in providing communications networking equipment, software and support services to enable transport, switching, aggregation and management of data, voice and video traffic. In the recently released second quarter financial results, Ciena Corporation (NASDAQ:CIEN) had reported a record revenue for the quarter which had surpassed the $500 million milestone.

The company had reported a GAAP adjusted net loss of $27.1 million or $0.27 per common share for the second quarter of fiscal year 2013, compared to the GAAP adjusted net loss of $27.8 million or $0.28 per basic and diluted share for the same quarter of previous year. Ciena Corporation (NASDAQ:CIEN) had moved on take advantage of the fundamental shift in network architecture to support the changing demands of end users, which had thereby resulted in record revenues for the company.

Ciena Corporation (NASDAQ:CIEN) presently holds 101.53 million shares outstanding in the market with an institutional ownership of 104 percent of its holdings. The average trading volume of the company is at 3.35 million shares per day.

Published by Pushpa Naresh

Pushpa Naresh has done MBA (Finance) and an avid market tracker. She is a technical analyst who closely tracks US markets along with other global markets like India. She has been expressing her views about markets and also advises various clients.

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