CIENA Corp.’s recently made public that its SVP and Chief Strategy Officer Rothenstein David M unloaded Company’s shares for reported $0.18 million on Aug 15 ’24. In the deal valued at $52.42 per share,3,500 shares were sold. As a result of this transaction, Rothenstein David M now holds 208,921 shares worth roughly $11.56 million.
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Then, Cumello Joseph sold 1,289 shares, generating $67,569 in total proceeds. Upon selling the shares at $52.42, the SVP, General Mgr. Blue Planet now owns 44,685 shares.
Before that, SCOTT MCFEELY bought 2,500 shares. CIENA Corp. shares valued at $131,050 were divested by the Officer at a price of $52.42 per share.
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 Tuesday, CIENA Corp. [NYSE:CIEN] saw its stock fall -3.99% to $55.35. Over the last five days, the stock has lost -2.54%. CIENA Corp. shares have risen nearly 22.97% since the year began. Nevertheless, the stocks have risen 10.74% 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 $50.57, while 200 days put it at $49.46.
Levels Of Support And Resistance For CIEN Stock
The 24-hour chart illustrates a support level at 54.28, which if violated will result in even more drops to 53.22. On the upside, there is a resistance level at 57.33. A further resistance level may holdings at 59.32. The Relative Strength Index (RSI) on the 14-day chart is 58.69, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.38, which suggests price will go up in the next trading period. Percent R suggests that price movement has been low at 32.26%. Stochastics %K at 85.46% indicates the stock is a selling.
How much short interest is there in CIENA Corp.?
A steep rise in short interest was recorded in CIENA Corp. stocks on 2024-08-15, growing by 0.68 million shares to a total of 4.83 million shares. Yahoo Finance data shows the prior-month short interest on 2024-07-15 was 4.15 million shares. There was a rise of 14.16%, which implies that there is a positive sentiment for the stock.
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.
