Currently, there are 142.66M common shares owned by the public and among those 139.64M shares have been available to trade.
The company’s stock has a 5-day price change of -9.99% and 15.15% over the past three months. CIEN shares are trading -10.05% year to date (YTD), with the 12-month market performance up to 48.34% higher. It has a 12-month low price of $43.30 and touched a high of $101.44 over the same period. CIEN has an average intraday trading volume of 2.09 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -11.16%, -4.11%, and 27.25% respectively.
Institutional ownership of CIENA Corp (NYSE: CIEN) shares accounts for 100.64% of the company’s 142.66M shares outstanding.
It has a market capitalization of $10.84B and a beta (3y monthly) value of 0.90. The stock’s trailing 12-month PE ratio is 132.89, while the earnings-per-share (ttm) stands at $0.57. Price movements for the stock have been influenced by the stock’s volatility, which stands at 7.16% over the week and 3.68% over the month.
Earnings per share for the fiscal year are expected to increase by 32.20%, and 42.24% over the next financial year.
Looking at the support for the CIEN, a number of firms have released research notes about the stock. BofA Securities stated their Buy rating for the stock in a research note on December 13, 2024, with the firm’s price target at $70-$95. Morgan Stanley coverage for the CIENA Corp (CIEN) stock in a research note released on October 28, 2024 offered a Equal-Weight rating with a price target of $63. Evercore ISI was of a view on October 15, 2024 that the stock is In-line, while Exane BNP Paribas gave the stock Neutral rating on October 09, 2024, issuing a price target of $59- $67. JP Morgan on their part issued Neutral rating on October 07, 2024.
