Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. CIENA Corp shares valued at $577,071 were sold by SMITH GARY B on Feb 03 ’25. At $84.86 per share, SMITH GARY B sold 6,800 shares. The insider’s holdings dropped to 412,149 shares worth approximately $37.95 million following the completion of this transaction.
Also, Kosaraju Sheela sold 1,509 shares, netting a total of over 129,638 in proceeds. Following the sale of shares at $85.91 each, the insider now holds 95,745 shares.
Before that, SMITH GARY B had sold 6,800 shares from its account. In a trade valued at $579,982, the President, CEO traded CIENA Corp shares for $85.29 each. Upon closing the transaction, the insider’s holdings decreased to 6,800 shares, worth approximately $38.58 million.
As published in a research note from JP Morgan on January 28, 2025, CIENA Corp [CIEN] has been rated up from a Neutral to an Overweight and the price target has been revised to $88 from $84. Analysts at BofA Securities upgraded the stock from ‘”a Neutral”‘ to ‘”a Buy”‘ outlook in a report released in mid December. As of October 28, 2024, Morgan Stanley has decreased its “an Overweight” rating to a “an Equal-weight” for CIEN. Earlier on October 15, 2024, Evercore ISI downgraded its rating. Their new recommendation was “an In-line” for CIEN stock which previously was a “an Outperform”.
Analyzing CIEN Stock Performance
During the last five days, there has been a surge of approximately 13.18%. Over the course of the year, CIENA Corp shares have jumped approximately 8.57%. Shares of the company reached a 52-week high of $101.44 on 01/24/25 and a 52-week low of $74.89 on 01/27/25. A 50-day SMA is recorded $81.93, while a 200-day SMA reached $61.36. Nevertheless, trading volume fell to 2.6 million shares from 2.3 million shares the previous day.
Support And Resistance Levels for CIENA Corp (CIEN)
According to the 24-hour chart, there is a support level at 89.26, which, if violated, would cause prices to drop to 86.44. In the upper region, resistance lies at 93.65. The next price resistance is at 95.21. RSI (Relative Strength Index) is 58.49 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.00, which suggests the price will increase in the coming days. Percent R is at 35.25%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
