CIENA Corp. (NYSE: CIEN) is 25.33% 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 $56.44 in the last trading session, with the day’s loss setting it -0.03%.
Currently trading at $56.41, the stock is 2.53% and 8.78% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.34 million and changing -0.05% at the moment leaves the stock 13.08% off its SMA200. CIEN registered 15.45% gain for a year compared to 6-month gain of 13.41%.
3 Tiny Stocks Primed to Explode
The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Click here for full details and to join for free
Sponsored
The stock witnessed a 4.58% loss in the last 1 month and extending the period to 3 months gives it a 21.10%, and is 5.83% up 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 2.39% over the week and 3.26% over the month.
CIENA Corp. (CIEN) has around 8483 employees, a market worth around $8.15B and $4.02B in sales. Current P/E ratio is 60.14 and Fwd P/E is 20.82. Profit margin for the company is 3.44%. Distance from 52-week low is 41.24% and -10.80% from its 52-week high. The company has generated returns on investments over the last 12 months (3.10%).
The EPS is expected to shrink by -28.94% this year
623.0 institutions hold shares in CIENA Corp. (CIEN), with institutional investors hold 101.90% of the company’s shares. The shares outstanding are 144.83M, and float is at 142.12M with Short Float at 4.05%. Institutions hold 100.94% of the Float.
The top institutional shareholder in the company is FMR LLC with over 21.56 million shares valued at $1.04 billion. The investor’s holdings represent 14.8748 of the CIEN Shares outstanding. As of 2024-06-30, the second largest holder is BLACKROCK INC. with 15.61 million shares valued at $752.08 million to account for 10.7717 of the shares outstanding. The other top investors are VANGUARD GROUP INC which holds 14.98 million shares representing 10.3343 and valued at over $721.54 million, while BARROW HANLEY MEWHINNEY & STRAUSS LLC holds 3.7247 of the shares totaling 5.4 million with a market value of $260.05 million.
CIENA Corp. (CIEN) Insider Activity
The most recent transaction is an insider sale by Cumello Joseph, the company’s SVP, General Mgr. Blue Planet. SEC filings show that Cumello Joseph sold 1,289 shares of the company’s common stock on Sep 16 ’24 at a price of $56.24 per share for a total of $72493.0. Following the sale, the insider now owns 43396.0 shares.
CIENA Corp. disclosed in a document filed with the SEC on Sep 16 ’24 that Rothenstein David M (SVP and Chief Strategy Officer) sold a total of 3,500 shares of the company’s common stock. The trade occurred on Sep 16 ’24 and was made at $56.24 per share for $0.2 million. Following the transaction, the insider now directly holds 0.21 million shares of the CIEN stock.
Still, SEC filings show that on Sep 16 ’24, JOSEPH CUMELLO (Officer) Proposed Sale 1,289 shares at an average price of $56.24 for $72493.0. The insider now directly holds shares of CIENA Corp. (CIEN).
