CIENA Corp’s recent filing unveils that its Officer JOSEPH CUMELLO acquired Company’s shares for reported $0.11 million on Dec 16 ’24. In the deal valued at $89.09 per share,1,289 shares were bought.
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Then, DAVID ROTHENSTEIN bought 3,500 shares, generating $311,815 in total proceeds.
Before that, Cumello Joseph sold 1,289 shares. CIENA Corp shares valued at $88,928 were divested by the SVP, General Mgr. Blue Planet at a price of $68.99 per share. As a result of the transaction, Cumello Joseph now holds 39,486 shares, worth roughly $3.48 million.
BofA Securities upgraded its CIENA Corp [CIEN] rating to a Buy from a a Neutral in a research note published on December 13, 2024; the price target was increased to $95 from $70. A number of analysts have revised their coverage, including Morgan Stanley’s analysts, who decreased its forecast for the stock in late October from “an Overweight” to “an Equal-weight”. Evercore ISI also remained covering CIEN and has decreased its forecast on October 15, 2024 with a “an In-line” recommendation from previously “an Outperform” rating. Exane BNP Paribas revised its rating on October 09, 2024. It rated CIEN as “a Neutral” which previously was an “an Outperform”.
Price Performance Review of CIEN
On Tuesday, CIENA Corp [NYSE:CIEN] saw its stock fall -3.29% to $88.14. Over the last five days, the stock has gained 24.35%. CIENA Corp shares have risen nearly 95.82% since the year began. Nevertheless, the stocks have risen 102.67% over the past one year. While a 52-week high of $91.82 was reached on 12/16/24, a 52-week low of $42.20 was recorded on 04/22/24. SMA at 50 days reached $69.84, while 200 days put it at $55.56.
Levels Of Support And Resistance For CIEN Stock
The 24-hour chart illustrates a support level at 86.76, which if violated will result in even more drops to 85.38. On the upside, there is a resistance level at 90.36. A further resistance level may holdings at 92.58. The Relative Strength Index (RSI) on the 14-day chart is 73.59, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 13.31, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 15.70%. Stochastics %K at 91.57% 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 2024-11-29, growing by 0.22 million shares to a total of 6.26 million shares. Yahoo Finance data shows the prior-month short interest on 2024-10-31 was 6.03 million shares. There was a rise of 3.59%, which implies that there is a positive sentiment for the stock.
