In the past week, CIEN stock has gone down by -5.58%, with a monthly decline of -9.98% and a quarterly plunge of -10.97%. The volatility ratio for the week is 2.17%, and the volatility levels for the last 30 days are 1.96% for CIENA Corp. The simple moving average for the last 20 days is -7.24% for CIEN’s stock, with a simple moving average of -3.97% for the last 200 days.
Is It Worth Investing in CIENA Corp. (NYSE: CIEN) Right Now?
CIENA Corp. (NYSE: CIEN) has a higher price-to-earnings ratio of 29.27x compared to its average ratio. CIEN has 36-month beta value of 1.01. Analysts have mixed views on the stock, with 11 analysts rating it as a “buy,” 6 as “overweight,” 4 as “hold,” and 0 as “sell.”
The public float for CIEN is 142.50M, and currently, short sellers hold a 3.71% ratio of that float. The average trading volume of CIEN on April 17, 2024 was 2.10M shares.
CIEN) stock’s latest price update
CIENA Corp. (NYSE: CIEN)’s stock price has gone rise by 1.58 in comparison to its previous close of 44.33, however, the company has experienced a -5.58% decrease in its stock price over the last five trading days. Bloomberg Markets and Finance reported 2024-04-12 that Top calls today are Ciena, Corteva and VF Corp.
Analysts’ Opinion of CIEN
Many brokerage firms have already submitted their reports for CIEN stocks, with Citigroup repeating the rating for CIEN by listing it as a “Sell.” The predicted price for CIEN in the upcoming period, according to Citigroup is $44 based on the research report published on April 12, 2024 of the current year 2024.
Exane BNP Paribas, on the other hand, stated in their research note that they expect to see CIEN reach a price target of $57. The rating they have provided for CIEN stocks is “Outperform” according to the report published on April 11th, 2024.
Evercore ISI gave a rating of “Outperform” to CIEN, setting the target price at $57 in the report published on January 12th of the current year.
CIEN Trading at -14.71% 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 -28.80% of loss for the given period.
Volatility was left at 1.96%, however, over the last 30 days, the volatility rate increased by 2.17%, as shares sank -9.03% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -17.56% lower at present.
During the last 5 trading sessions, CIEN fell by -5.58%, which changed the moving average for the period of 200-days by +5.80% in comparison to the 20-day moving average, which settled at $48.32. In addition, CIENA Corp. saw 0.04% 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 1.57. 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
To put it simply, CIENA Corp. (CIEN) has had a bad performance in recent times. Analysts have a mixed opinion on the stock, with some rating it as a “buy” and others 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.
