Trading Day Triumph: CIENA Corp. (CIEN) Ends at 48.10, a 2.84 Surge/Plunge

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CIENA Corp. (NYSE: CIEN) closed the day trading at $48.10 up 2.84% from the previous closing price of $46.77. In other words, the price has increased by $2.84 from its previous closing price. On the day, 1.65 million shares were traded. CIEN stock price reached its highest trading level at $48.69 during the session, while it also had its lowest trading level at $47.285.

Ratios:

For a better understanding of CIEN, let’s look at its different ratios. It provided that stocks Price–to–Cash (P/C) ratio for the trailing twelve months (TTM) is standing at 5.50 whereas its Price-to-Free Cash Flow (P/FCF) for the term is 15.55. 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 Jul 01 ’24 when Phipps Jason sold 2,712 shares for $48.29 per share. The transaction valued at 130,962 led to the insider holds 96,000 shares of the business.

DiPerna Dino sold 490 shares of CIEN for $23,662 on Jul 01 ’24. The SVP Global R&D now owns 40,825 shares after completing the transaction at $48.29 per share. On Jun 17 ’24, another insider, Rothenstein David M, who serves as the SVP and Chief Strategy Officer of the company, sold 3,500 shares for $46.05 each. As a result, the insider received 161,175 and left with 217,711 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 6912209920 and an Enterprise Value of 7256526336. As of this moment, CIENA’s Price-to-Earnings (P/E) ratio for their current fiscal year is 46.32, and their Forward P/E ratio for the next fiscal year is 16.80. The expected Price-to-Earnings-to-Growth (PEG) calculation for the next 5 years is 4.35. For the stock, the TTM Price-to-Sale (P/S) ratio is 1.67 while its Price-to-Book (P/B) ratio in mrq is 2.41. Its current Enterprise Value per Revenue stands at 1.75 whereas that against EBITDA is 17.209.

Stock Price History:

The Beta on a monthly basis for CIEN is 0.94, which has changed by 0.092188954 over the last 52 weeks, in comparison to a change of 0.2553556 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 0.54%, while the 200-Day Moving Average is calculated to be 0.23%.

Shares Statistics:

Over the past 3-months, CIEN traded about 1.61M shares per day on average, while over the past 10 days, CIEN traded about 1250000 shares per day. A total of 144.83M shares are outstanding, with a floating share count of 141.68M. Insiders hold about 1.41% of the company’s shares, while institutions hold 97.31% stake in the company. Shares short for CIEN as of 1718323200 were 3291985 with a Short Ratio of 2.05, compared to 1715731200 on 5485946. Therefore, it implies a Short% of Shares Outstanding of 3291985 and a Short% of Float of 2.98.

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