Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. CIENA Corp. shares valued at $194,366 were sold by SMITH GARY B on May 01 ’24. At $46.66 per share, SMITH GARY B sold 4,166 shares. The insider’s holdings dropped to 380,943 shares worth approximately $18.75 million following the completion of this transaction.
Also, SMITH GARY B sold 4,166 shares, netting a total of over 186,627 in proceeds. Following the sale of shares at $44.80 each, the insider now holds 385,109 shares.
Before that, Rothenstein David M had sold 3,500 shares from its account. In a trade valued at $160,090, the SVP and Chief Strategy Officer traded CIENA Corp. shares for $45.74 each. Upon closing the transaction, the insider’s holdings decreased to 3,500 shares, worth approximately $11.06 million.
As published in their initiating research note from Citigroup on April 12, 2024, CIENA Corp. [CIEN] has been a Sell and the price target has been revised to $44. Analysts at Exane BNP Paribas started covering the stock with ‘”an Outperform”‘ outlook in a report released in mid April. As of January 12, 2024, Evercore ISI has increased its “an In-line” rating to a “an Outperform” for CIEN. Earlier on September 28, 2023, Stifel initiated its rating. Their recommendation was “a Buy” for CIEN stock.
Analyzing CIEN Stock Performance
During the last five days, there has been a surge of approximately 5.53%. Over the course of the year, CIENA Corp. shares have jumped approximately 9.33%. Shares of the company reached a 52-week high of $63.24 on 03/04/24 and a 52-week low of $43.30 on 04/22/24. A 50-day SMA is recorded $49.56, while a 200-day SMA reached $47.19. Nevertheless, trading volume fell to 0.98 million shares from 1.86 million shares the previous day.
Support And Resistance Levels for CIENA Corp. (CIEN)
According to the 24-hour chart, there is a support level at 48.74, which, if violated, would cause prices to drop to 48.26. In the upper region, resistance lies at 49.47. The next price resistance is at 49.72. RSI (Relative Strength Index) is 60.74 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 2.46, which suggests the price will increase in the coming days. Percent R is at 5.14%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
