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Ciena Corporation (CIEN) Volatility At 1.97%, Should You Add A Position?

Ciena Corporation (NYSE: CIEN) is -13.08% lower on its value in year-to-date trading and has touched a low of $38.33 and a high of $56.38 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The CIEN stock was last observed hovering at around $45.50 in the last trading session, with the day’s loss setting it -1.19% off its average median price target of $65.00 for the next 12 months. It is also 40.12% off the consensus price target high of $74.00 offered by analysts, but current levels are 1.53% higher than the price target low of $45.00 for the same period.

Currently trading at $44.31, the stock is -0.45% and -7.25% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.63 million and changing -2.62% at the moment leaves the stock -6.55% off its SMA200. CIEN registered -11.72% loss for a year compared to 6-month gain of -0.07%. The firm has a 50-day simple moving average (SMA 50) of $1.82 and a 200-day simple moving average (SMA200) of $16.70.

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The stock witnessed a -2.21% loss in the last 1 month and extending the period to 3 months gives it a -7.73%, and is -0.43% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 1.97% over the week and 2.01% over the month.

Ciena Corporation (CIEN) has around 8079 employees, a market worth around $6.57B and $3.84B in sales. Current P/E ratio is 36.32 and Fwd P/E is 12.19. Profit margin for the company is 4.80%. Distance from 52-week low is 15.60% and -21.41% from its 52-week high. The company has generated returns on investments over the last 12 months (5.00%).

Ciena Corporation (CIEN) Analyst Forecasts

Ciena Corporation is expected to release its quarterly report on 08/31/2023.The EPS is expected to shrink by -68.50% this year

Ciena Corporation (CIEN) Top Institutional Holders

The shares outstanding are 149.08M, and float is at 146.89M with Short Float at 2.67%.

Ciena Corporation (CIEN) Insider Activity

A total of 166 insider transactions have happened at Ciena Corporation (CIEN) in the last six months, with sales accounting for 131 and purchases happening 35 times. The most recent transaction is an insider sale by Rothenstein David M, the company’s SVP and Chief Strategy Officer. SEC filings show that Rothenstein David M sold 3,500 shares of the company’s common stock on May 15 at a price of $43.50 per share for a total of $0.15 million. Following the sale, the insider now owns 0.24 million shares.

Ciena Corporation disclosed in a document filed with the SEC on May 15 that McFeely Scott (SVP, Networking Platforms) sold a total of 2,000 shares of the company’s common stock. The trade occurred on May 15 and was made at $43.50 per share for $87000.0. Following the transaction, the insider now directly holds 98230.0 shares of the CIEN stock.

Still, SEC filings show that on May 15, PETRIK ANDREW C (VP, CONTROLLER) disposed off 1,000 shares at an average price of $43.50 for $43500.0. The insider now directly holds 28,232 shares of Ciena Corporation (CIEN).

Ciena Corporation (CIEN): Who are the competitors?

The company’s main competitors (and peers) include Cisco Systems Inc. (CSCO) that is trading 11.67% up over the past 12 months and Motorola Solutions Inc. (MSI) that is 33.27% higher over the same period.

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