CIENA Corp. (NYSE: CIEN) has a price-to-earnings ratio of 31.00x that is above its average ratio. Additionally, the 36-month beta value for CIEN is 1.00. There are mixed opinions on the stock, with 11 analysts rating it as a “buy,” 6 rating it as “overweight,” 4 rating it as “hold,” and 0 rating it as “sell.”
The public float for CIEN is 142.51M and currently, short sellers hold a 3.55% ratio of that float. The average trading volume of CIEN on April 10, 2024 was 2.12M shares.
CIEN) stock’s latest price update
CIENA Corp. (NYSE: CIEN)’s stock price has plunge by 0.40relation to previous closing price of 47.50. Nevertheless, the company has seen a -1.87% plunge in its stock price over the last five trading sessions. Zacks Investment Research reported 2024-03-27 that Ciena (CIEN) and Toshiba partner to showcase quantum secure communication platform at OFC Conference 2024.
CIEN’s Market Performance
CIEN’s stock has fallen by -1.87% in the past week, with a monthly drop of -12.14% and a quarterly rise of 0.63%. The volatility ratio for the week is 1.42% while the volatility levels for the last 30 days are 2.20% for CIENA Corp. The simple moving average for the last 20 days is -4.08% for CIEN stock, with a simple moving average of 1.97% for the last 200 days.
Analysts’ Opinion of CIEN
Many brokerage firms have already submitted their reports for CIEN stocks, with Evercore ISI repeating the rating for CIEN by listing it as a “Outperform.” The predicted price for CIEN in the upcoming period, according to Evercore ISI is $57 based on the research report published on January 12, 2024 of the current year 2024.
Stifel, on the other hand, stated in their research note that they expect to see CIEN reach a price target of $62. The rating they have provided for CIEN stocks is “Buy” according to the report published on September 28th, 2023.
Needham gave a rating of “Buy” to CIEN, setting the target price at $50 in the report published on August 28th of the previous year.
CIEN Trading at -10.78% 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 -24.59% of loss for the given period.
Volatility was left at 2.20%, however, over the last 30 days, the volatility rate increased by 1.42%, as shares sank -7.47% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -7.25% lower at present.
During the last 5 trading sessions, CIEN fell by -1.87%, which changed the moving average for the period of 200-days by +14.86% in comparison to the 20-day moving average, which settled at $49.52. In addition, CIENA Corp. saw 5.95% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at CIEN starting from SMITH GARY B, who sale 4,166 shares at the price of $49.39 back on Apr 01 ’24. After this action, SMITH GARY B now owns 389,275 shares of CIENA Corp., valued at $205,767 using the latest closing price.
Phipps Jason, the SVP Global Sales and Marketing of CIENA Corp., sale 2,792 shares at $49.61 during a trade that took place back on Apr 01 ’24, which means that Phipps Jason is holding 100,853 shares at $138,511 based on the most recent closing price.
Stock Fundamentals for CIEN
Current profitability levels for the company are sitting at:
- 0.08 for the present operating margin
- 0.43 for the gross margin
The net margin for CIENA Corp. stands at 0.05. The total capital return value is set at 0.08. Equity return is now at value 7.92, with 4.05 for asset returns.
Based on CIENA Corp. (CIEN), the company’s capital structure generated 0.35 points at debt to capital in total, while cash flow to debt ratio is standing at 0.44. The debt to equity ratio resting at 0.54. The interest coverage ratio of the stock is 3.77.
Currently, EBITDA for the company is 589.04 million with net debt to EBITDA at 0.62. When we switch over and look at the enterprise to sales, we see a ratio of 1.66. The receivables turnover for the company is 4.21for trailing twelve months and the total asset turnover is 0.78. The liquidity ratio also appears to be rather interesting for investors as it stands at 4.26.
Conclusion
In conclusion, CIENA Corp. (CIEN) has seen mixed performance in recent times. Analysts have a mixed opinion on the stock, with some rating it as a “buy” and others rating it as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
