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 $12.82 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.
Morgan Stanley downgraded its CIENA Corp. [CIEN] rating to an Equal-weight from a an Overweight in a research note published recently. A number of analysts have revised their coverage, including Evercore ISI’s analysts, who decreased its forecast for the stock in mid October from “an Outperform” to “an In-line”. Exane BNP Paribas also remained covering CIEN and has decreased its forecast on October 09, 2024 with a “Neutral” recommendation from previously “an Outperform” rating. JP Morgan revised its rating on October 07, 2024. It rated CIEN as “a Neutral” which previously was an “an Overweight”.
Price Performance Review of CIEN
On Monday, CIENA Corp. [NYSE:CIEN] saw its stock fall -0.05% to $64.09. Over the last five days, the stock has lost -3.71%. CIENA Corp. shares have risen nearly 42.39% since the year began. Nevertheless, the stocks have risen 57.86% 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 $60.30, while 200 days put it at $52.62.
Levels Of Support And Resistance For CIEN Stock
The 24-hour chart illustrates a support level at 63.23, which if violated will result in even more drops to 62.37. On the upside, there is a resistance level at 64.89. A further resistance level may holdings at 65.69. The Relative Strength Index (RSI) on the 14-day chart is 50.86, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -1.65, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 86.35%. Stochastics %K at 20.09% 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 2024-10-15, growing by 0.18 million shares to a total of 6.11 million shares. Yahoo Finance data shows the prior-month short interest on 2024-09-13 was 5.93 million shares. There was a rise of 2.96%, which implies that there is a positive sentiment for the stock.
