Ciena Corporation (CIEN) soared 1.93 in the last month: It’s impossible to believe the numbers

On January 23, 2023, Ciena Corporation (NYSE: CIEN) opened at $50.69, higher 1.93% from the last session. During the day, the shares moved up to $51.44 and dropped to $50.51 before settling in for the closing price of $50.29. Price fluctuations for CIEN have ranged from $38.33 to $71.06 over the past 52 weeks.

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Annual sales at Technology sector company grew by 5.30% over the past five years. Company’s average yearly earnings per share was noted -68.50% at the time writing. With a float of $146.89 million, this company’s outstanding shares have now reached $148.58 million.

Let’s look at the performance matrix of the company that is accounted for 8079 employees. In terms of profitability, gross margin is +39.42, operating margin of +7.08, and the pretax margin is +5.02.

Ciena Corporation (CIEN) Insider Updates

A key investor’s attitude towards the stock of the Communication Equipment industry is another important factor to consider. The insider ownership of Ciena Corporation is 0.70%, while institutional ownership is 99.90%. The most recent insider transaction that took place on Jan 17, was worth 178,115. In this transaction Sr. VP, General Counsel of this company sold 3,500 shares at a rate of $50.89, taking the stock ownership to the 256,668 shares. Before that another transaction happened on Jan 17, when Company’s VP, CONTROLLER sold 1,000 for $50.89, making the entire transaction worth $50,890. This insider now owns 32,558 shares in total.

Ciena Corporation (CIEN) Performance Highlights and Predictions

If we go through the results of last quarter, which was made public on 7/30/2022, the company posted $0.33 earnings per share (EPS) for the quarter, coming under the agreed prediction (set at $0.34) by -$0.01. This company achieved a net margin of +4.21 while generating a return on equity of 5.33. Wall Street market experts anticipate that the next fiscal year will bring earnings of 0.28 per share during the current fiscal year.

According to the Wall Street analysts, stocks earnings will be around -68.50% per share during the next fiscal year. For the long-term projections, market analysts anticipate that the company’s EPS will surge by 7.10% during the next five years compared to 4.50% growth over the previous five years of trading.

Ciena Corporation (NYSE: CIEN) Trading Performance Indicators

Check out the current performance indicators for Ciena Corporation (CIEN). In the past quarter, the stock posted a quick ratio of 2.30. In addition, a publicly-traded company’s price to sales ratio for the trailing twelve months stands at 2.09.

For the trailing twelve months, Company’s Diluted EPS (Earnings per Share) is 1.00, a number that is poised to hit 0.35 in the next quarter and is forecasted to reach 3.58 in one year’s time.

Technical Analysis of Ciena Corporation (CIEN)

Ciena Corporation (NYSE: CIEN) saw its 5-day average volume 1.36 million, a positive change from its year-to-date volume of 1.31 million. As of the previous 9 days, the stock’s Stochastic %D was 37.87%. Additionally, its Average True Range was 1.44.

During the past 100 days, Ciena Corporation’s (CIEN) raw stochastic average was set at 87.19%, which indicates a significant increase from 58.70% during the past two weeks. Based on volatility metrics of the stock, it showed a historical volatility of 24.33% in the past 14 days, which was lower than the 45.98% volatility it showed in the past 100 days.

At the time of writing, stock’s 50-day Moving Average is $47.85, while its 200-day Moving Average is $48.33. Nevertheless, the first resistance level for the watch stands at $51.63 in the near term. At $52.00, the stock is likely to face the second major resistance level. The third major resistance level sits at $52.56. If the price goes on to break the first support level at $50.70, it is likely to go to the next support level at $50.14. Assuming the price breaks the second support level, the third support level stands at $49.77.

Ciena Corporation (NYSE: CIEN) Key Stats

There are currently 148,415K shares outstanding in the company with a market cap of 7.58 billion. Presently, the company’s annual sales total 3,633 M according to its annual income of 152,900 K. Last quarter, the company’s sales amounted to 971,010 K and its income totaled 57,650 K.


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