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A company insider recently sold 2,712 shares of CIENA Corp. [CIEN]. Should You also Consider to Sale?

CIENA Corp.’s recent filing unveils that its SVP Global Sales and Marketing Phipps Jason unloaded Company’s shares for reported $0.13 million on Jul 01 ’24. In the deal valued at $48.29 per share,2,712 shares were sold. As a result of this transaction, Phipps Jason now holds 96,000 shares worth roughly $4.62 million.

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Then, DiPerna Dino sold 490 shares, generating $23,662 in total proceeds. Upon selling the shares at $48.29, the SVP Global R&D now owns 40,825 shares.

Before that, Rothenstein David M sold 3,500 shares. CIENA Corp. shares valued at $161,175 were divested by the SVP and Chief Strategy Officer at a price of $46.05 per share. As a result of the transaction, Rothenstein David M now holds 217,711 shares, worth roughly $10.47 million.

Morgan Stanley upgraded its CIENA Corp. [CIEN] rating to an Overweight from a an Equal-weight in a research note published on June 12, 2024; the price target was increased to $55 from $53. A number of analysts have revised their coverage, including Raymond James’s analysts, who decreased its forecast for the stock in early June from “a Strong buy” to “an Outperform”. Rosenblatt also remained covering CIEN and has decreased its forecast on May 30, 2024 with a “Neutral” recommendation from previously “Buy” rating. Citigroup started covering the stock on April 12, 2024. It rated CIEN as “a Sell”.

Price Performance Review of CIEN

On Monday, CIENA Corp. [NYSE:CIEN] saw its stock jump 2.84% to $48.10. Over the last five days, the stock has lost -0.17%. CIENA Corp. shares have risen nearly 6.87% since the year began. Nevertheless, the stocks have risen 13.47% 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 $47.90, while 200 days put it at $47.99. A total of 1.65 million shares were traded, compared to the trading of 1.18 million shares in the previous session.

Levels Of Support And Resistance For CIEN Stock

The 24-hour chart illustrates a support level at 47.36, which if violated will result in even more drops to 46.62. On the upside, there is a resistance level at 48.76. A further resistance level may holdings at 49.43. The Relative Strength Index (RSI) on the 14-day chart is 52.89, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.18, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 27.15%. Stochastics%K at 44.93% indicates the stock is a holding.

The most recent change occurred on April 11, 2024 when Exane BNP Paribas began covering the stock and recommended ‘”an Outperform”‘ rating along with a $57 price target.

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