In a filing, CIENA Corp. revealed its SVP Global Sales and Marketing Phipps Jason unloaded Company’s shares for reported $0.14 million on Oct 01 ’24. In the deal valued at $61.49 per share,2,200 shares were sold. As a result of this transaction, Phipps Jason now holds 91,149 shares worth roughly $5.8 million.
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Then, JASON PHIPPS bought 2,200 shares, generating $135,278 in total proceeds.
Before that, Cumello Joseph sold 1,289 shares. CIENA Corp. shares valued at $72,493 were divested by the SVP, General Mgr. Blue Planet at a price of $56.24 per share. As a result of the transaction, Cumello Joseph now holds 43,396 shares, worth roughly $2.76 million.
JP Morgan downgraded its CIENA Corp. [CIEN] rating to a Neutral from a an Overweight in a research note published recently. A number of analysts have revised their coverage, including Citigroup’s analysts, who increased its forecast for the stock in late September from “a Sell” to “a Buy”. BofA Securities also remained covering CIEN and has decreased its forecast on September 05, 2024 with a “Neutral” recommendation from previously “Buy” rating. Morgan Stanley revised its rating on June 12, 2024. It rated CIEN as “an Overweight” which previously was an “an Equal-weight”.
Price Performance Review of CIEN
On Monday, CIENA Corp. [NYSE:CIEN] saw its stock fall -4.65% to $63.59. Over the last five days, the stock has gained 3.25%. CIENA Corp. shares have risen nearly 41.28% since the year began. Nevertheless, the stocks have risen 45.35% over the past one year. While a 52-week high of $66.78 was reached on 10/04/24, a 52-week low of $39.94 was recorded on 04/22/24. SMA at 50 days reached $55.33, while 200 days put it at $51.07.
Levels Of Support And Resistance For CIEN Stock
The 24-hour chart illustrates a support level at 62.71, which if violated will result in even more drops to 61.84. On the upside, there is a resistance level at 65.04. A further resistance level may holdings at 66.50. The Relative Strength Index (RSI) on the 14-day chart is 62.39, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 3.35, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 29.58%. Stochastics %K at 86.44% 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 2024-09-13, growing by 1.1 million shares to a total of 5.93 million shares. Yahoo Finance data shows the prior-month short interest on 2024-08-15 was 4.83 million shares. There was a rise of 18.52%, which implies that there is a positive sentiment for the stock.
