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Daily High to Daily Low: Is It Safe to Buy Ciena Corporation (CIEN)?

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Ciena Corporation (NYSE:CIEN) went down by -1.30% from its latest closing price compared to the recent 1-year high of $78.28. The company’s stock price has collected -2.60% of loss in the last five trading sessions. Press Release reported 5 hours ago that Ciena Announces Pricing of $400 Million Senior Notes Private Offering

Is It Worth Investing in Ciena Corporation (NYSE :CIEN) Right Now?

Ciena Corporation (NYSE:CIEN) scored a price-to-earnings ratio above its average ratio, recording 23.16 x from its present earnings ratio. Plus, the 36-month beta value for CIEN is at 0.86. Opinions of the stock are interesting as 12 analysts out of 17 who provided ratings for Ciena Corporation declared the stock was a “buy,” while 1 rated the stock as “overweight,” 4 rated it as “hold,” and 0 as “sell.”

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The average price from analysts is $80.67, which is $6.22 above the current price. CIEN currently public float of 153.31M and currently shorts hold a 4.13% ratio of that float. Today, the average trading volume of CIEN was 1.34M shares.

CIEN’s Market Performance

CIEN stocks went down by -2.60% for the week, with a monthly jump of 0.76% and a quarterly performance of 42.41%, while its annual performance rate touched 36.37%. The volatility ratio for the week stands at 2.97% while the volatility levels for the past 30 days are set at 2.33% for Ciena Corporation. The simple moving average for the period of the last 20 days is -1.98% for CIEN stocks with a simple moving average of 27.52% for the last 200 days.

Analysts’ Opinion of CIEN

Many brokerage firms have already submitted their reports for CIEN stocks, with Needham repeating the rating for CIEN by listing it as a “Buy.” The predicted price for CIEN in the upcoming period, according to Needham is $80 based on the research report published on December 10th of the previous year 2021.

Morgan Stanley, on the other hand, stated in their research note that they expect to see CIEN reach a price target of $74, previously predicting the price at $59. The rating they have provided for CIEN stocks is “Equal-Weight” according to the report published on December 10th, 2021.

JP Morgan gave a rating of “Overweight” to CIEN, setting the target price at $85 in the report published on December 10th of the previous year.

CIEN Trading at 10.37% from the 50-Day Moving Average

After a stumble in the market that brought CIEN to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -5.58% of loss for the given period.

Volatility was left at 2.33%, however, over the last 30 days, the volatility rate increased by 2.97%, as shares sank -0.28% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +36.14% upper at present.

During the last 5 trading sessions, CIEN fell by -2.60%, which changed the moving average for the period of 200-days by +34.60% in comparison to the 20-day moving average, which settled at $75.39. In addition, Ciena Corporation saw -3.98% in overturn over a single year, with a tendency to cut further losses.

Insider Trading

Reports are indicating that there were more than several insider trading activities at CIEN starting from McFeely Scott, who sale 8,000 shares at the price of $75.75 back on Dec 22. After this action, McFeely Scott now owns 132,538 shares of Ciena Corporation, valued at $605,974 using the latest closing price.

HAMILTON RICK, the SVP, Software and Services of Ciena Corporation, sale 15,390 shares at $74.37 during a trade that took place back on Dec 21, which means that HAMILTON RICK is holding 76,024 shares at $1,144,560 based on the most recent closing price.

Stock Fundamentals for CIEN

Current profitability levels for the company are sitting at:

  • +14.57 for the present operating margin
  • +44.25 for the gross margin

The net margin for Ciena Corporation stands at +13.81. Equity return is now at value 17.80, with 11.10 for asset returns.

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The liquidity ratio also appears to be rather interesting for investors as it stands at 3.48.

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