CIENA Corp.’s recent filing unveils that its President, CEO SMITH GARY B unloaded Company’s shares for reported $0.19 million on Apr 15 ’24. In the deal valued at $44.80 per share,4,166 shares were sold. As a result of this transaction, SMITH GARY B now holds 385,109 shares worth roughly $16.78 million.
Then, Rothenstein David M sold 3,500 shares, generating $160,090 in total proceeds. Upon selling the shares at $45.74, the SVP and Chief Strategy Officer now owns 224,711 shares.
Before that, Cumello Joseph sold 3,156 shares. CIENA Corp. shares valued at $144,355 were divested by the SVP, General Mgr. Blue Planet at a price of $45.74 per share. As a result of the transaction, Cumello Joseph now holds 51,171 shares, worth roughly $2.23 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 -0.48% to $43.56. Over the last five days, the stock has lost -4.47%. CIENA Corp. shares have fallen nearly -3.22% since the year began. Nevertheless, the stocks have fallen -7.34% 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 04/19/24. SMA at 50 days reached $51.94, while 200 days put it at $46.92. A total of 1.22 million shares were traded, compared to the trading of 1.5 million shares in the previous session.
Levels Of Support And Resistance For CIEN Stock
The 24-hour chart illustrates a support level at 43.24, which if violated will result in even more drops to 42.93. On the upside, there is a resistance level at 43.95. A further resistance level may holdings at 44.35. The Relative Strength Index (RSI) on the 14-day chart is 26.57, which indicates oversold technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -2.28, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 95.82%. Stochastics %K at 6.54% 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.
