Ciena Falls More Than 8% on FBR Downgrade
Shares of Ciena Corporation (NASDAQ: CIEN) are getting hit on very heavy volume during Tuesday's trading session. In mid-afternoon trade, CIEN was down more than 8 percent to $16.39. The stock opened near the flat line, and has been heading south ever since. At last check, the stock was sitting near session lows.
FBR Capital downgraded the stock from Outperform to Market Perform, on Tuesday morning. FBR Capital has a $18.00 price target on the stock.
Ciena Corporation is a provider of communications networking equipment, software and services that support the transport, switching, aggregation and management of voice, video and data traffic.
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