CIENA Corp. (NYSE: CIEN) is 14.44% higher on its value in year-to-date trading and has touched a low of $39.94 and a high of $63.24 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The CIEN stock was last observed hovering at around $51.54 in the last trading session, with the day’s loss setting it -0.03%.
Currently trading at $51.51, the stock is -9.11% and -2.97% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 2.66 million and changing -0.06% at the moment leaves the stock 11.29% off its SMA200. CIEN registered 4.00% gain for a year compared to 6-month gain of 5.49%. The firm has a 50-day simple moving average (SMA 50) of $1.76 and a 200-day simple moving average (SMA200) of $14.44.
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The stock witnessed a -9.22% loss in the last 1 month and extending the period to 3 months gives it a 16.14%, and is -15.71% 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 4.56% over the week and 3.18% over the month.
CIENA Corp. (CIEN) has around 8483 employees, a market worth around $7.45B and $4.37B in sales. Current P/E ratio is 33.48 and Fwd P/E is 16.20. Profit margin for the company is 5.22%. Distance from 52-week low is 28.97% and -18.55% from its 52-week high. The company has generated returns on investments over the last 12 months (5.07%).
CIENA Corp. quarterly earnings per share for the current quarter are estimated at $0.14 with sales reaching $894.52M over the same period.The EPS is expected to shrink by -15.70% this year, but quarterly earnings will post -5.90% year-over-year.
CIENA Corp. (CIEN) Top Institutional Holders
609 institutions hold shares in CIENA Corp. (CIEN), with institutional investors hold 98.12% of the company’s shares. The shares outstanding are 144.83M, and float is at 142.73M with Short Float at 4.20%. Institutions hold 97.15% of the Float.
The top institutional shareholder in the company is Blackrock Inc. with over 16.65 million shares valued at $707.49 million. The investor’s holdings represent 11.26% of the CIEN Shares outstanding. As of Jun 29, 2023, the second largest holder is Vanguard Group Inc with 14.93 million shares valued at $634.32 million to account for 10.10% of the shares outstanding. The other top investors are FMR, LLC which holds 8.57 million shares representing 5.80% and valued at over $364.12 million, while BNP Paribas Asset Management Holding S.A. holds 2.90% of the shares totaling 4.29 million with a market value of $182.12 million.
CIENA Corp. (CIEN) Insider Activity
The most recent transaction is an insider sale by SMITH GARY B,the company’sPresident, CEO. SEC filings show that SMITH GARY B sold 8,332 shares of the company’s common stock on Mar 01 ’24 at a price of $60.20 per share for a total of $0.5 million. Following the sale, the insider now owns 0.41 million shares.
CIENA Corp. disclosed in a document filed with the SEC on Feb 15 ’24 that SMITH GARY B (President, CEO) sold a total of 8,332 shares of the company’s common stock. The trade occurred on Feb 15 ’24 and was made at $56.86 per share for $0.47 million. Following the transaction, the insider now directly holds 0.42 million shares of the CIEN stock.
Still, SEC filings show that on Feb 15 ’24, Rothenstein David M (SVP and Chief Strategy Officer) disposed off 3,500 shares at an average price of $56.69 for $0.2 million. The insider now directly holds 233,501 shares of CIENA Corp. (CIEN).
