Ciena Corporation [NYSE: CIEN] stock went on a downward path that fall over -10.37% on Thursday, amounting to a one-week price decrease of less than -18.04%. The company report on September 1, 2022 that Ciena Reports Fiscal Third Quarter 2022 Financial Results.
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Ciena® Corporation (NYSE: CIEN), a networking systems, services and software company, today announced unaudited financial results for its fiscal third quarter ended July 30, 2022.
Over the last 12 months, CIEN stock dropped by -20.04%. The one-year Ciena Corporation stock forecast points to a potential upside of 32.76. The average equity rating for CIEN stock is currently 2.00, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $7.05 billion, with 152.20 million shares outstanding and 148.37 million shares in the current float. Compared to the average trading volume of 1.42M shares, CIEN stock reached a trading volume of 6484366 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on Ciena Corporation [CIEN]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CIEN shares is $67.64 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CIEN stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Morgan Stanley have made an estimate for Ciena Corporation shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on August 12, 2022. While these analysts kept the previous recommendation, MKM Partners raised their target price to Buy. The new note on the price target was released on August 04, 2022, representing the official price target for Ciena Corporation stock. Previously, the target price had yet another raise from $65 to $67, while B. Riley Securities kept a Buy rating on CIEN stock.
The Average True Range (ATR) for Ciena Corporation is set at 1.84, with the Price to Sales ratio for CIEN stock in the period of the last 12 months amounting to 1.84. The Price to Book ratio for the last quarter was 2.49, with the Price to Cash per share for the same quarter was set at 10.00. Price to Free Cash Flow for CIEN in the course of the last twelve months was 23.25 with Quick ratio for the last quarter at 3.10.
CIEN Stock Performance Analysis:
Ciena Corporation [CIEN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -18.04. With this latest performance, CIEN shares dropped by -12.87% in over the last four-week period, additionally sinking by -34.14% over the last 6 months – not to mention a drop of -20.04% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CIEN stock in for the last two-week period is set at 29.52, with the RSI for the last a single of trading hit 20.80, and the three-weeks RSI is set at 35.49 for Ciena Corporation [CIEN]. The present Moving Average for the last 50 days of trading for this stock 50.24, while it was recorded at 50.64 for the last single week of trading, and 58.44 for the last 200 days.
Insight into Ciena Corporation Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and Ciena Corporation [CIEN] shares currently have an operating margin of +14.57 and a Gross Margin at +44.25. Ciena Corporation’s Net Margin is presently recorded at +13.81.
Return on Equity for this stock inclined to 18.09, with Return on Assets sitting at 11.06.
Ciena Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.10 and a Current Ratio set at 3.70.
CIEN Stock EPS
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CIEN. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Ciena Corporation go to 7.10%.
Ciena Corporation [CIEN] Insider Position Details
There are presently around $6,241 million, or 95.00% of CIEN stock, in the hands of institutional investors. The top three institutional holders of CIEN stocks are: BLACKROCK INC. with ownership of 15,894,109, which is approximately -0.081% of the company’s market cap and around 1.10% of the total institutional ownership; VANGUARD GROUP INC, holding 14,545,699 shares of the stock with an approximate value of $661.54 million in CIEN stocks shares; and FMR LLC, currently with $391.31 million in CIEN stock with ownership of nearly -2.419% of the company’s market capitalization.
Positions in Ciena Corporation stocks held by institutional investors increased at the end of September and at the time of the September reporting period, where 224 institutional holders increased their position in Ciena Corporation [NYSE:CIEN] by around 11,997,338 shares. Additionally, 262 investors decreased positions by around 10,363,064 shares, while 61 investors held positions by with 114,865,631 shares. The mentioned changes placed institutional holdings at 137,226,033 shares, according to the latest SEC report filing. CIEN stock had 50 new institutional investments in for a total of 2,821,169 shares, while 81 institutional investors sold positions of 2,411,717 shares during the same period.