CIENA Corp’s recent filing unveils that its Director Claflin Bruce L. unloaded Company’s shares for reported $1.44 million on Jan 06 ’25. In the deal valued at $84.96 per share,16,912 shares were sold. As a result of this transaction, Claflin Bruce L. now holds 59,347 shares worth roughly $4.88 million.
Then, SMITH GARY B sold 13,600 shares, generating $1,137,774 in total proceeds. Upon selling the shares at $83.66, the President, CEO now owns 425,749 shares.
Before that, Claflin Bruce L. bought 16,912 shares. CIENA Corp shares valued at $1,436,851 were divested by the Director at a price of $84.96 per share.
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 Friday, CIENA Corp [NYSE:CIEN] saw its stock jump 0.02% to $82.25. Over the last five days, the stock has lost -1.19%. CIENA Corp shares have fallen nearly -3.02% since the year began. Nevertheless, the stocks have risen 71.71% over the past one year. While a 52-week high of $91.82 was reached on 01/02/25, a 52-week low of $43.30 was recorded on 01/10/25. SMA at 50 days reached $75.45, while 200 days put it at $58.01.
Levels Of Support And Resistance For CIEN Stock
The 24-hour chart illustrates a support level at 80.07, which if violated will result in even more drops to 77.90. On the upside, there is a resistance level at 84.59. A further resistance level may holdings at 86.94. The Relative Strength Index (RSI) on the 14-day chart is 52.68, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -2.96, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 77.62%. Stochastics %K at 19.40% indicates the stock is a buying.
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.
