In a filing, CIENA Corp revealed its SVP and General Counsel Kosaraju Sheela unloaded Company’s shares for reported $0.13 million on Jan 15 ’25. In the deal valued at $85.91 per share,1,509 shares were sold. As a result of this transaction, Kosaraju Sheela now holds 95,745 shares worth roughly $8.34 million.
Then, SMITH GARY B sold 6,800 shares, generating $579,982 in total proceeds. Upon selling the shares at $85.29, the President, CEO now owns 418,949 shares.
Before that, Gage Brodie sold 350 shares. CIENA Corp shares valued at $30,068 were divested by the SVP Global Products & Supply at a price of $85.91 per share. As a result of the transaction, Gage Brodie now holds 49,547 shares, worth roughly $4.32 million.
JP Morgan upgraded its CIENA Corp [CIEN] rating to an Overweight from a a Neutral in a research note published on January 28, 2025; the price target was increased to $88 from $84. A number of analysts have revised their coverage, including BofA Securities’s analysts, who increased its forecast for the stock in mid December from “a Neutral” to “a Buy”. Morgan Stanley also remained covering CIEN and has decreased its forecast on October 28, 2024 with a “an Equal-weight” recommendation from previously “an Overweight” rating. Evercore ISI revised its rating on October 15, 2024. It rated CIEN as “an In-line” which previously was an “an Outperform”.
Price Performance Review of CIEN
On Friday, CIENA Corp [NYSE:CIEN] saw its stock jump 2.94% to $87.14. Over the last five days, the stock has lost -9.81%. CIENA Corp shares have risen nearly 2.75% since the year began. Nevertheless, the stocks have risen 64.79% over the past one year. While a 52-week high of $101.44 was reached on 01/24/25, a 52-week low of $43.30 was recorded on 01/27/25. SMA at 50 days reached $80.64, while 200 days put it at $60.70.
Levels Of Support And Resistance For CIEN Stock
The 24-hour chart illustrates a support level at 85.42, which if violated will result in even more drops to 83.70. On the upside, there is a resistance level at 88.21. A further resistance level may holdings at 89.28. The Relative Strength Index (RSI) on the 14-day chart is 53.34, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -1.91, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 53.86%. Stochastics %K at 35.76% 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 2024-11-29, 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.
