CIENA Corp (NYSE: CIEN) has a higher price-to-earnings ratio of 70.87x compared to its average ratio, The 36-month beta value for CIEN is at 0.94. Analysts have varying views on the stock, with 11 analysts rating it as a “buy,” 6 rating it as “overweight,” 8 as “hold,” and 0 as “sell.”
The public float for CIEN is 142.08M, and currently, shorts hold a 4.25% of that float. The average trading volume for CIEN on November 21, 2024 was 1.96M shares.
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CIEN) stock’s latest price update
CIENA Corp (NYSE: CIEN) has seen a decline in its stock price by -0.92 in relation to its previous close of 67.10. However, the company has experienced a -6.89% decline in its stock price over the last five trading sessions. zacks.com reported 2024-10-22 that Boldyn Networks is utilizing Ciena’s scalable wavelength service, offering up to 1.6Tb/s per channel.
CIEN’s Market Performance
CIEN’s stock has fallen by -6.89% in the past week, with a monthly rise of 0.50% and a quarterly rise of 22.43%. The volatility ratio for the week is 2.83% while the volatility levels for the last 30 days are 2.92% for CIENA Corp The simple moving average for the past 20 days is -1.00% for CIEN’s stock, with a 23.29% simple moving average for the past 200 days.
Analysts’ Opinion of CIEN
Many brokerage firms have already submitted their reports for CIEN stocks, with Morgan Stanley repeating the rating for CIEN by listing it as a “Equal-Weight.” The predicted price for CIEN in the upcoming period, according to Morgan Stanley is $63 based on the research report published on October 28, 2024 of the current year 2024.
Evercore ISI, on the other hand, stated in their research note that they expect to see CIEN reach a price target of $65. The rating they have provided for CIEN stocks is “In-line” according to the report published on October 15th, 2024.
Exane BNP Paribas gave a rating of “Neutral” to CIEN, setting the target price at $67 in the report published on October 09th of the current year.
CIEN Trading at 2.82% 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 -9.51% of loss for the given period.
Volatility was left at 2.92%, however, over the last 30 days, the volatility rate increased by 2.83%, as shares surge +0.35% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +24.73% upper at present.
During the last 5 trading sessions, CIEN fell by -6.89%, which changed the moving average for the period of 200-days by +21.07% in comparison to the 20-day moving average, which settled at $67.15. In addition, CIENA Corp saw 47.70% 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 Cumello Joseph, who sale 1,289 shares at the price of $68.99 back on Nov 15 ’24. After this action, Cumello Joseph now owns 39,486 shares of CIENA Corp, valued at $88,928 using the latest closing price.
Rothenstein David M, the SVP and Chief Strategy Officer of CIENA Corp, sale 3,500 shares at $68.99 during a trade that took place back on Nov 15 ’24, which means that Rothenstein David M is holding 196,497 shares at $241,465 based on the most recent closing price.
Stock Fundamentals for CIEN
Current profitability levels for the company are sitting at:
- 0.05 for the present operating margin
- 0.42 for the gross margin
The net margin for CIENA Corp stands at 0.03. The total capital return value is set at 0.05. Equity return is now at value 4.73, with 2.45 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 0.23. The debt to equity ratio resting at 0.54. The interest coverage ratio of the stock is 2.28.
Currently, EBITDA for the company is 527.03 million with net debt to EBITDA at 1.98. When we switch over and look at the enterprise to sales, we see a ratio of 2.57. The receivables turnover for the company is 3.86for trailing twelve months and the total asset turnover is 0.72. The liquidity ratio also appears to be rather interesting for investors as it stands at 4.04.
Conclusion
In conclusion, CIENA Corp (CIEN) has had a better performance lately. Opinion on the stock among analysts is mixed, with some giving it a “buy” rating and others a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
