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Tuesday, January 31, 2023

There Is A Quest For Clarity Surrounding Ciena Corporation (NYSE: CIEN) Volatility

After Hours

There is a slight risk associated with trading before and after the market open. Due to lower liquidity and higher volatility, extended-hours trading may result in wider spreads on particular security due to the release of critical financial information after regular trading hours. After-hours trades for Ciena Corporation (CIEN) shows that investor sentiment remained broken, with the stock’s consolidated last price falling by -$0.31, or -0.61%, to $50.80. The Ciena Corporation has recorded 72,661 volume in the after hours trading session. The stock was recently discussed on Yahoo Finance as it revealed that Ciena to Webcast Financial Community Event.


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Stocks Info

This NYSE-listed company operates within the Communication Equipment industry segment, falling under the Technology sector. At the end of the last regular session, the stock closed at $51.11 and fluctuated between $51.64 as its day high and $50.68 as its day low. The current market capitalization of Ciena Corporation is $7.56B. A total of 1.29 million shares were traded on the day, compared to an average of 1.86M shares.

Insider Activity

Insider trades can also provide insight into a stock’s future direction. During the recent three months, CIEN has seen 25 BUY and 11 SELL insider trades, representing the acquisition of 420,320 and the disposition of 28,166 shares. Over the last 12 months, there were 34 BUYs and 162 SELLs from insiders. Insiders purchased 453,818 shares during that period but sold 266,857.

In the most recent transaction, SMITH GARY B sold 3,541 shares of CIEN for 52.49 per share on Jan 09. After the transaction, the President, CEO now owns 491,028 company shares. In a previous transaction on Jan 03, MOYLAN JAMES E JR sold 2,000 shares at 51.50 per share. CIEN shares that SVP Finance, CFO owns now total 246,967.

Among the insiders who sold shares, SMITH GARY B disposed of 3,541 shares on Dec 28 at a per-share price of $49.29. This resulted in the President, CEO holding 494,569 shares of CIEN after the transaction. In another insider transaction, HAMILTON RICK sold 9,763 shares at $49.36 per share on Dec 21. Company shares held by the SVP, Software and Services now total 77,190.

Even though price targets are rarely accurate, they do tend to exert some kind of influence from time to time and are often considered important by markets. According to analysts who have offered 12-month price targets for CIEN in the last 3 months, the mean price target is $62.29 with high estimates of $76.00 and low estimates of $45.00. In terms of 52-week highs and lows, CIEN has a high of $72.64 and a low of $38.33.

As of this writing, CIEN has an earnings estimate of $0.08 per share for the current quarter. EPS was calculated based on a consensus of 16 estimates, with a high estimate of $0.13 per share and a lower estimate of $0.04. The company reported an EPS of $0.52 in the last quarter, which was -3.70% lower than expectations of $0.54.

Balance Sheet Annually/Quarterly

In a balance sheet, you can see what assets and liabilities the company has, as well as how much equity investors have invested. These figures can be used to calculate a company’s financial ratios to give investors a better idea of its prospects.

Analysts Opinion

The risks associated with pre-market and after-hours trading may be slightly higher than the regular market hours. The reason is that extended-hours trading may result in wider spreads for particular security due to lower liquidity and higher volatility as issuers often announce critical financial information outside regular trading hours. Currently, 19 analysts are providing their opinions on the stock. On a scale of 1 to 5, with 1 being Sell and 5 being Buy, the average analyst rating for CIEN is Underweight with a score of 4.47. A total of 13 analysts rated the stock as Buy while 2 rated it as Overweight while 4 rated it as Hold. Among the other participants, 0 thought the stock was Underweight and 0 thought it should be Sold.

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