There were fewer short positions for Ciena Co. in November (NYSE: CIEN). As of November 15, there were 4,230,000 shares totaling short interest, a 15.2% decrease from 4,990,000 on October 31. About 2.9% of the stock is being traded short. Based on an average daily trading volume of 1,870,000 shares, the short-interest ratio is 2.3 days.
Gary B. Smith, the CEO of Ciena, sold 3,542 shares of the corporation’s stock on November 2. The stock was sold at an average price of $47.05 for a total transaction value of $166,651.10. After the sale, the CEO now owns 387,040 shares worth roughly $18,210,232. You can access a document submitted to the SEC containing details about the transaction by clicking this link. Related news includes the sale of 3,542 shares of company stock by CEO Gary B. Smith on November 2. A total of $166,651.10 worth of the stock was sold at an average price of $47.05. The Chief Executive Officer’s stock holdings, which currently amount to 387,040 shares, have decreased from 409,040 shares at the time of the transaction to $18,210,232. A document submitted to the SEC and posted on the SEC website made the sale public. James E. Moylan, Jr., the chief financial officer, also sold 2,000 company stock on November 7. The stock was sold at an average price of $46.26 for a total transaction value of $92,520.00. The transaction has been completed, and the chief financial officer now owns 218.492 company shares, valued at approximately $10.107.439.92. The disclosure for this sale is available here. Insiders sold 36,208 shares of company stock for $1,549,651 during the most recent quarter. Insiders own 0.94% of the company’s shares.
Recently, other research institutions have offered their opinions on CIEN.
In a research note published on Friday, September 2, Barclays lowered their target price for Ciena from $70.00 to $55.00. On Friday, September 2, Cowen published a research note with a target price reduction for Ciena from $82.00 to $71.00 and an “outperform” rating. On Friday, September 2, Cowen published a research note with a target price reduction for Ciena from $82.00 to $71.00 and an “outperform” rating. Raymond James reduced Ciena’s target price from $64.00 to $55.00 in a research report released on Friday, September 2, and the stock was given the “outperform” rating. Ciena was downgraded by JPMorgan Chase & Co. from “overweight” to “neutral,” and their target price was lowered from $62.00 to $45.00 in a research note released on Tuesday, September 6. Four research analysts gave the stock a hold rating, and fifteen gave it a buy rating. According to information from Bloomberg, the company has a “Moderate Buy” rating and an average target price of $64.74.
Several institutional investors have recently bought and sold CIEN shares. SeaCrest Wealth Management LLC increased its stake in Ciena by $32,000 during the second quarter. Private Trust Co. NA grew its stake in Ciena by 115.1% during the third quarter. During the most recent quarter, Private Trust Co. NA acquired an additional 473 shares of the communications equipment provider’s stock for a total transaction of 884 shares at $36,000. Eagle Bay Advisors LLC boosted its stake in Ciena by 98.3% during the second quarter. Eagle Bay Advisors LLC now owns 817 of the communications equipment provider’s stock after purchasing 405 additional shares during the most recent quarter. Standard Family Office LLC purchased Ciena shares for about $37,000 during the third quarter. Finally, IndexIQ Advisors LLC increased its holding of Ciena shares during the first quarter at around $41,000. Institutional investors and hedge funds hold 90.64% of the company’s stock.
The price of Ciena shares jumped $0.08 to $44.77 at lunchtime on Friday. The company’s stock had a trading volume of 1,551,339 shares as opposed to its typical volume of 1,741,426. The business has a market value of $6.63 billion, a P/E ratio of 35.25, a PEG ratio of 1.49, and a beta of 1.00. The company’s price is currently $43.31 and $46.48, respectively, above its 50-day and 200-day simple moving averages. The company’s quick, current, and quick ratios are 2.58, 3.48, and 3.48, respectively. It has a 0.40 debt-to-equity ratio. Ciena’s peak and low prices for the past year are 78.28 and 38.33 USD, respectively.
Ciena (NYSE: CIEN) published its most recent earnings report on September 1. The communications equipment manufacturer reported $0.18 EPS for the quarter, $0.05 behind the $0.21 average expectation. The quarter’s sales were $867.30 million, less than experts’ projections of $903.95 million. Ciena had a 5.37% net margin and an 8.91% return on equity. Revenue for the quarter decreased by 12.2% from the same period last year. Over the same quarter the year before, the company produced $0.81 in EPS. Sell-side analysts predict that Ciena will make $0.83 in profits per share this year.