Let’s look at the key reasons that are pushing CIENA Corp (CIEN) to new highs

On Tuesday, CIENA Corp (NYSE: CIEN) was -2.93% drop from the session before settling in for the closing price of $73.02. A 52-week range for CIEN has been $42.20 – $75.11.

Over the past five-year period, the growth rate of yearbook sales for the company of the Technology sector was 5.62%. When this article was written, the company’s average yearly earnings per share was at -28.77%. With a float of $142.09 million, this company’s outstanding shares have now reached $144.43 million.

Considering the fact that the conglomerate employs 8483 people, you should pay attention to its efficiency factor. In terms of profitability, gross margin is 41.9%, operating margin of 5.46%, and the pretax margin is 3.54%.

CIENA Corp (CIEN) Breakdown of a Key Holders of the stock

Also, it is sometimes useful to examine the sentiment of large-scale investors toward CIENA Corp stocks. The insider ownership of CIENA Corp is 1.62%, while institutional ownership is 99.17%. The most recent insider transaction that took place on Nov 15 ’24, was worth 88,928. In this transaction SVP, General Mgr. Blue Planet of this company sold 1,289 shares at a rate of $68.99, taking the stock ownership to the 39,486 shares. Before that another transaction happened on Nov 15 ’24, when Company’s SVP and Chief Strategy Officer sold 3,500 for $68.99, making the entire transaction worth $241,465. This insider now owns 196,497 shares in total.

CIENA Corp (CIEN) Recent Fiscal highlights

Wall Street market experts anticipate that the next fiscal year will bring earnings of 0.5 per share during the current fiscal year.

According to the Wall Street analysts, stocks earnings will be around -28.77% per share during the next fiscal year.

CIENA Corp (NYSE: CIEN) Trading Performance Indicators

You can see what CIENA Corp (CIEN) is doing with its current performance indicators. In the most recent quarter, the stock posted a quick ratio of 2.97. In addition, a publicly-traded company’s price to sales ratio for the trailing twelve months stands at 2.55. Likewise, its price to free cash flow for the trailing twelve months is 36.27.

For the trailing twelve months, Company’s Diluted EPS (Earnings per Share) is 0.94, a number that is poised to hit 0.65 in the next quarter and is forecasted to reach 2.72 in one year’s time.

Technical Analysis of CIENA Corp (CIEN)

Compared to the last year’s volume of 1.78 million, its volume of 1.96 million showed improvement in the last five days. As of the previous 9 days, the stock’s Stochastic %D was 67.46%. Additionally, its Average True Range was 2.01.

During the past 100 days, CIENA Corp’s (CIEN) raw stochastic average was set at 86.00%, which indicates a significant increase from 53.67% during the past two weeks. Based on volatility metrics of the stock, it showed a historical volatility of 29.35% in the past 14 days, which was lower than the 38.06% volatility it showed in the past 100 days.

At the time of writing, stock’s 50-day Moving Average is $67.77, while its 200-day Moving Average is $54.90. Nevertheless, the first resistance level for the watch stands at $72.67 in the near term. At $74.45, the stock is likely to face the second major resistance level. The third major resistance level sits at $75.49. If the price goes on to break the first support level at $69.85, it is likely to go to the next support level at $68.81. Now, if the price goes above the second support level, the third support stands at $67.03.

CIENA Corp (NYSE: CIEN) Key Stats

There are 144,427K outstanding shares of the company, which has a market capitalization of 10.24 billion. As of now, sales total 4,387 M while income totals 254,830 K. Its latest quarter income was 942,310 K while its last quarter net income were 14,230 K.