The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. CIENA Corp. shares valued at $236,005 were sold by Rothenstein David M on Oct 15 ’24. At $67.43 per share, Rothenstein David M sold 3,500 shares. The insider’s holdings dropped to 199,997 shares worth approximately $13.3 million following the completion of this transaction.
3 Tiny Stocks Primed to Explode
The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Click here for full details and to join for free
Sponsored
Also, Cumello Joseph sold 1,289 shares, netting a total of over 86,917 in proceeds. Following the sale of shares at $67.43 each, the insider now holds 40,775 shares.
Before that, JOSEPH CUMELLO had added 1,289 shares to its account. In a trade valued at $86,917, the Officer bought CIENA Corp. shares for $67.43 each.
As published in a research note from Evercore ISI on October 15, 2024, CIENA Corp. [CIEN] has been rated down from an Outperform to an In-line and the price target has been revised to $65. Analysts at Exane BNP Paribas downgraded the stock from ‘”an Outperform”‘ to ‘”a Neutral”‘ outlook in a report released in early October. As of October 07, 2024, JP Morgan has decreased its “an Overweight” rating to a “Neutral” for CIEN. Earlier on September 23, 2024, Citigroup upgraded its rating. Their new recommendation was “a Buy” for CIEN stock which previously was a “a Sell”.
Analyzing CIEN Stock Performance
During the last five days, there has been a drop of approximately -2.91%. Over the course of the year, CIENA Corp. shares have jumped approximately 47.77%. Shares of the company reached a 52-week high of $69.91 on 10/11/24 and a 52-week low of $43.30 on 04/22/24. A 50-day SMA is recorded $58.20, while a 200-day SMA reached $51.97. Nevertheless, trading volume fell to 1.66 million shares from 1.13 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 65.98, which, if violated, would cause prices to drop to 65.46. In the upper region, resistance lies at 67.19. The next price resistance is at 67.88. RSI (Relative Strength Index) is 62.37 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.53, which suggests the price will decrease in the coming days. Percent R is at 32.98%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
