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 $17.95 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 $2.39 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 jump 2.04% to $46.61. Over the last five days, the stock has gained 7.00%. CIENA Corp. shares have risen nearly 3.55% since the year began. Nevertheless, the stocks have risen 3.37% 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 04/22/24. SMA at 50 days reached $50.84, while 200 days put it at $46.97. A total of 1.46 million shares were traded, compared to the trading of 38842.0 shares in the previous session.
Levels Of Support And Resistance For CIEN Stock
The 24-hour chart illustrates a support level at 45.94, which if violated will result in even more drops to 45.26. On the upside, there is a resistance level at 47.07. A further resistance level may holdings at 47.52. The Relative Strength Index (RSI) on the 14-day chart is 46.85, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.45, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 27.25%. Stochastics %K at 53.28% indicates the stock is a holding.
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.
