CIENA Corp.’s recently made public that its President, CEO SMITH GARY B unloaded Company’s shares for reported $0.21 million on Apr 01 ’24. In the deal valued at $49.39 per share,4,166 shares were sold. As a result of this transaction, SMITH GARY B now holds 389,275 shares worth roughly $17.75 million.
Then, Phipps Jason sold 2,792 shares, generating $138,511 in total proceeds. Upon selling the shares at $49.61, the SVP Global Sales and Marketing now owns 100,853 shares.
Before that, Gage Brodie sold 533 shares. CIENA Corp. shares valued at $26,442 were divested by the SVP Global Products & Supply at a price of $49.61 per share. As a result of the transaction, Gage Brodie now holds 41,372 shares, worth roughly $1.89 million.
Citigroup initiated its CIENA Corp. [CIEN] rating to a Sell in a research note published on April 12, 2024; the price target was $44. A number of analysts have revised their coverage, including Exane BNP Paribas’s analysts, who began to cover the stock in mid April with a ‘”an Outperform”‘ rating. Evercore ISI also remained covering CIEN and has increased its forecast on January 12, 2024 with a “an Outperform” recommendation from previously “an In-line” rating. Stifel started covering the stock on September 28, 2023. It rated CIEN as “a Buy”.
Price Performance Review of CIEN
On Friday, CIENA Corp. [NYSE:CIEN] saw its stock fall -3.18% to $45.60. Over the last five days, the stock has lost -4.18%. CIENA Corp. shares have risen nearly 1.31% since the year began. Nevertheless, the stocks have fallen -11.20% over the past one year. While a 52-week high of $63.24 was reached on 03/04/24, a 52-week low of $39.94 was recorded on 01/02/24. SMA at 50 days reached $52.99, while 200 days put it at $46.88. A total of 2.12 million shares were traded, compared to the trading of 1.52 million shares in the previous session.
Levels Of Support And Resistance For CIEN Stock
The 24-hour chart illustrates a support level at 45.10, which if violated will result in even more drops to 44.60. On the upside, there is a resistance level at 46.26. A further resistance level may holdings at 46.92. The Relative Strength Index (RSI) on the 14-day chart is 29.30, which indicates oversold technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -1.77, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 94.66%. Stochastics %K at 4.34% indicates the stock is a buying.
The most recent change occurred on August 28, 2023 when Needham resumed its ‘”a Buy”‘ rating for the stock and retained the price target to $50.
