CIENA Corp.’s filing revealed that its SVP and Chief Strategy Officer Rothenstein David M unloaded Company’s shares for reported $0.24 million on Oct 15 ’24. In the deal valued at $67.43 per share,3,500 shares were sold. As a result of this transaction, Rothenstein David M now holds 199,997 shares worth roughly $13.31 million.
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Then, Cumello Joseph sold 1,289 shares, generating $86,917 in total proceeds. Upon selling the shares at $67.43, the SVP, General Mgr. Blue Planet now owns 40,775 shares.
Before that, JOSEPH CUMELLO bought 1,289 shares. CIENA Corp. shares valued at $86,917 were divested by the Officer at a price of $67.43 per share.
Evercore ISI downgraded its CIENA Corp. [CIEN] rating to an In-line from a an Outperform in a research note published recently. A number of analysts have revised their coverage, including Exane BNP Paribas’s analysts, who decreased its forecast for the stock in early October from “an Outperform” to “a Neutral”. JP Morgan also remained covering CIEN and has decreased its forecast on October 07, 2024 with a “Neutral” recommendation from previously “an Overweight” rating. Citigroup revised its rating on September 23, 2024. It rated CIEN as “a Buy” which previously was an “a Sell”.
Price Performance Review of CIEN
On Monday, CIENA Corp. [NYSE:CIEN] saw its stock jump 1.88% to $66.56. Over the last five days, the stock has lost -1.73%. CIENA Corp. shares have risen nearly 47.88% since the year began. Nevertheless, the stocks have risen 58.02% over the past one year. While a 52-week high of $69.91 was reached on 10/11/24, a 52-week low of $39.94 was recorded on 04/22/24. SMA at 50 days reached $58.89, while 200 days put it at $52.18.
Levels Of Support And Resistance For CIEN Stock
The 24-hour chart illustrates a support level at 65.82, which if violated will result in even more drops to 65.09. On the upside, there is a resistance level at 67.02. A further resistance level may holdings at 67.49. The Relative Strength Index (RSI) on the 14-day chart is 61.01, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.28, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 43.45%. Stochastics %K at 59.72% indicates the stock is a holding.
How much short interest is there in CIENA Corp.?
A steep rise in short interest was recorded in CIENA Corp. stocks on 2024-09-30, growing by 0.14 million shares to a total of 5.89 million shares. Yahoo Finance data shows the prior-month short interest on 2024-08-30 was 5.75 million shares. There was a rise of 2.4%, which implies that there is a positive sentiment for the stock.
