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The price of CIENA Corp. (NYSE: CIEN) closed at $56.74 in the last session, down -0.46% from day before closing price of $57.00. In other words, the price has decreased by -$0.46 from its previous closing price. On the day, 1.43 million shares were traded. CIEN stock price reached its highest trading level at $58.19 during the session, while it also had its lowest trading level at $56.73.
Ratios:
We take a closer look at CIEN’s different ratios to gain a better understanding of the stock. It provided that stocks Price–to–Cash (P/C) ratio for the trailing twelve months (TTM) is standing at 6.49 whereas its Price-to-Free Cash Flow (P/FCF) for the term is 18.34. For the most recent quarter (mrq), Quick Ratio is recorded 2.74 and its Current Ratio is at 3.86. In the meantime, Its Debt-to-Equity ratio is 0.56 whereas as Long-Term Debt/Eq ratio is at 0.54.
Upgrades & Downgrades
In addition, analysts’ ratings and any changes thereto give investors an idea of the stock’s future direction. In the most recent recommendation for the company, Morgan Stanley on June 12, 2024, Upgraded its rating to Overweight and sets its target price to $55 from $53 previously.
On June 06, 2024, Raymond James Downgraded its rating to Outperform which previously was Strong Buy and also lowered its target price recommendation from $59 to $54.
Rosenblatt Downgraded its Buy to Neutral on May 30, 2024, whereas the target price for the stock was revised from $65 to $52.50.
Insider Transactions:
An investor can also benefit from insider trades by learning what management is thinking about the future direction of stock prices. A recent insider transaction in this stock occurred on Aug 15 ’24 when Rothenstein David M sold 3,500 shares for $52.42 per share. The transaction valued at 183,470 led to the insider holds 208,921 shares of the business.
Cumello Joseph sold 1,289 shares of CIEN for $67,569 on Aug 15 ’24. The SVP, General Mgr. Blue Planet now owns 44,685 shares after completing the transaction at $52.42 per share. On Aug 15 ’24, another insider, SCOTT MCFEELY, who serves as the Officer of the company, bought 2,500 shares for $52.42 each.
Valuation Measures:
Investors should consider key stock statistics when deciding whether to invest or divest. In the wake of the recent closing price, CIEN now has a Market Capitalization of 8153821696 and an Enterprise Value of 8498137600. As of this moment, CIENA’s Price-to-Earnings (P/E) ratio for their current fiscal year is 54.64, and their Forward P/E ratio for the next fiscal year is 19.81. The expected Price-to-Earnings-to-Growth (PEG) calculation for the next 5 years is 5.13. For the stock, the TTM Price-to-Sale (P/S) ratio is 1.97 while its Price-to-Book (P/B) ratio in mrq is 2.84. Its current Enterprise Value per Revenue stands at 2.05 whereas that against EBITDA is 20.154.
Stock Price History:
Over the past 52 weeks, CIEN has reached a high of $63.24, while it has fallen to a 52-week low of $39.94. The 50-Day Moving Average of the stock is 13.44%, while the 200-Day Moving Average is calculated to be 15.15%.
Shares Statistics:
According to the various share statistics, CIEN traded on average about 1.52M shares per day over the past 3-months and 1164550 shares per day over the past 10 days. A total of 144.83M shares are outstanding, with a floating share count of 141.83M. Insiders hold about 1.31% of the company’s shares, while institutions hold 101.60% stake in the company. Shares short for CIEN as of 1723680000 were 4830909 with a Short Ratio of 3.19, compared to 1721001600 on 4146723. Therefore, it implies a Short% of Shares Outstanding of 4830909 and a Short% of Float of 4.37.
