What You Need To Know About Ciena Corporation (CIEN)

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Ciena Corporation (NYSE:CIEN) finished Wednesday with an addition of $0.16 to close at $40.74, an upside of 0.39 percent. An average of 1,974,680 shares of common stock have been traded in the last five days. There was a fall of -$1.97 in the past week, and it reached a new high 29 times over the past 12 months. The last 20 days have seen an average of 2,341,095 shares traded, while the 50-day average volume stands at 1,544,340.

CIEN stock has decreased by -25.14% in the last month. The company shares reached their 1-month lowest point of $40.17 on 09/20/22. With the stock rallying to its 52-week high on 01/03/22, shares of the company touched a low of $40.17 and a high of $78.28 in 52 weeks. It has reached a new high 1 time so far this year and lost -47.07% or -$36.23 in price. In spite of this, the price is down -47.96% from the 52-week high.


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Insider Transactions

3 days have passed since Ciena Corporation (CIEN) last reported insider trading activity. SMITH GARY B, who is President, CEO, most recently acquired $3,542 shares at $41.35 per share on Sep 19. In this transaction, the insider spent $146,450. SVP, Chief Technology Officer, ALEXANDER STEPHEN B, disposed of 2,000 shares at a price of $42.37 on Sep 15. The insider now owns more than $84,740 worth of shares. Prior to that, SVP, Networking Platforms McFeely Scott went on to Sale 4,000 shares at $42.37 each on Sep 15. An amount of $169,480 was transacted.

Valuation Metrics

Ciena Corporation (CIEN) has a trailing price-to-earnings (P/E) ratio of 31.88. The stock’s beta is 0.93. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 1.64, the price-to-book (PB) ratio at 2.29, and the price-to-cash flow ratio at 271.68.

Financial Health

The quick ratio of Ciena Corporation for the three months ended July 30 was 2.60, and the current ratio was 3.50, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.40 and a total debt to equity ratio of 0.40 for the quarter ending July 30. Its gross profit as reported stood at $1.72 billion compared to revenue of $3.62 billion.

Earnings Surprise

For the three-month period that ended July 30, Ciena Corporation had $321.82 million in cash. In the quarter under review, the net income was down than the previous quarter. The company posted a net income of $10.51 million in the quarter, while revenues of $38.92 million were shrunk -2166.7%. The analyst consensus anticipated Ciena Corporation’s latest quarter earnings to come in at $0.34 per share, but it turned out to be $0.33, a -2.90% surprise. For the quarter, EBITDA amounted to $61.41 million. Shareholders own equity worth $148.14 million.

Technical Picture

From a technical analysis perspective, let’s take a brief look at Ciena Corporation (CIEN) price momentum. RSI 9-day as of the close on 21 September was 20.98%, suggesting the stock is oversold, with historical volatility in this time frame at 24.90%.

As of today, CIEN’s price is $41.32 -4.61% or -$1.97 from its 5-day moving average. CIEN is currently trading -24.72% lower than its 20-day SMA and -28.54% lower than its 100-day SMA. However, the stock’s current price level is -12.35% below the SMA50 and -33.31% below the SMA200.

The stochastic %K and %D were 3.92% and 3.59%, respectively, and the average true range (ATR) was 1.40. With the 14-day stochastic at 6.99% and the average true range at 1.48, the RSI (14) stands at 26.21%. The stock has reached -1.46 on the 9-day MACD Oscillator while the 14-day reading was at -2.05.

Analyst Ratings

JP Morgan downgraded Ciena Corporation (NYSE: CIEN) to a a Neutral rating in its most recent analyst report. Previously, the stock was rated as an Overweight.

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