Stock Market Recap: CIENA Corp. (CIEN) Concludes at 46.96, a 0.82 Surge/Decline

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After finishing at $46.58 in the prior trading day, CIENA Corp. (NYSE: CIEN) closed at $46.96, up 0.82%. In other words, the price has increased by $0.82 from its previous closing price. On the day, 1.28 million shares were traded. CIEN stock price reached its highest trading level at $47.04 during the session, while it also had its lowest trading level at $46.41.

Ratios:

Our goal is to gain a better understanding of CIEN by taking a closer look at its different ratios. It provided that stocks Price–to–Cash (P/C) ratio for the trailing twelve months (TTM) is standing at 5.37 whereas its Price-to-Free Cash Flow (P/FCF) for the term is 15.18. 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:

The insider trade also gives investors a glimpse into the future direction of stock prices, which can be beneficial to investors. A recent insider transaction in this stock occurred on Jun 03 ’24 when SMITH GARY B sold 4,166 shares for $47.99 per share. The transaction valued at 199,927 led to the insider holds 372,611 shares of the business.

SMITH GARY B sold 4,166 shares of CIEN for $204,809 on May 15 ’24. The President, CEO now owns 376,777 shares after completing the transaction at $49.16 per share. On May 15 ’24, another insider, Rothenstein David M, who serves as the SVP and Chief Strategy Officer of the company, sold 3,500 shares for $49.00 each. As a result, the insider received 171,500 and left with 221,211 shares of the company.

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 6748386304 and an Enterprise Value of 7092702720. As of this moment, CIENA’s Price-to-Earnings (P/E) ratio for their current fiscal year is 45.22, and their Forward P/E ratio for the next fiscal year is 16.40. The expected Price-to-Earnings-to-Growth (PEG) calculation for the next 5 years is 4.25. For the stock, the TTM Price-to-Sale (P/S) ratio is 1.63 while its Price-to-Book (P/B) ratio in mrq is 2.35. Its current Enterprise Value per Revenue stands at 1.711 whereas that against EBITDA is 16.821.

Stock Price History:

The Beta on a monthly basis for CIEN is 0.94, which has changed by 0.14480746 over the last 52 weeks, in comparison to a change of 0.2586832 over the same period for the S&P500. 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 -0.80%, while the 200-Day Moving Average is calculated to be -2.26%.

Shares Statistics:

The stock has traded on average 1.58M shares per day over the past 3-months and 2075330 shares per day over the last 10 days, according to various share statistics. A total of 144.83M shares are outstanding, with a floating share count of 141.65M. Insiders hold about 1.43% of the company’s shares, while institutions hold 97.64% stake in the company. Shares short for CIEN as of 1715731200 were 5485946 with a Short Ratio of 3.41, compared to 1713139200 on 4558082. Therefore, it implies a Short% of Shares Outstanding of 5485946 and a Short% of Float of 4.9200002.

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