CIENA Corp. (NYSE: CIEN) is 34.48% 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 $61.68 in the last trading session, with the day’s loss setting it -1.15%.
Currently trading at $60.53, the stock is 8.58% and 14.77% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 2.1 million and changing -1.86% at the moment leaves the stock 20.74% off its SMA200. CIEN registered 28.40% gain for a year compared to 6-month gain of 21.52%. The firm has a 50-day simple moving average (SMA 50) of $52.9716 and a 200-day simple moving average (SMA200) of $50.20615.
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The stock witnessed a 7.06% loss in the last 1 month and extending the period to 3 months gives it a 27.81%, and is 7.25% 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 2.40% over the week and 3.25% over the month.
CIENA Corp. (CIEN) has around 8483 employees, a market worth around $8.74B and $4.02B in sales. Current P/E ratio is 64.53 and Fwd P/E is 22.28. Profit margin for the company is 3.44%. Distance from 52-week low is 51.55% and -4.29% 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.
CIENA Corp. (CIEN) Top Institutional Holders
623.0 institutions hold shares in CIENA Corp. (CIEN), with institutional investors hold 101.85% 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 100.89% 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).
