CIEN Stock Summary and Trading Ideas (Ciena | NYSE:CIEN)

Ciena Corp is a network and technology company. It provides network hardware, software, and services that support the transport, switching, aggregation, service delivery, and management of video, data, and voice traffic on communications networks. It serves various industries such as communication services providers, web-scale providers, cable operators, government, and large enterprises world-wide. The business activities function through Networking Platforms; Platform Software and Services; Blue Planet Automation Software, and Global Services segments. Geographically, its presence is seen in the markets of the United States, Canada, the Caribbean, Latin America, Europe, the Middle East, Africa, the Asia Pacific, Japan, and India. The maximum revenue is generated from Americas.

Ciena trades on the NYSE stock market under the symbol CIEN.

As of November 20, 2024, CIEN stock price declined to $66.48 with 910,051 million shares trading.

CIEN has a beta of 1.91, meaning it tends to be more sensitive to market movements. CIEN has a correlation of 0.42 to the broad based SPY ETF.

CIEN has a market cap of $9.55 billion. This is considered a Mid Cap stock.

Last quarter Ciena reported $942 million in Revenue and $.35 earnings per share. This beat revenue expectation by $14 million and exceeded earnings estimates by $.09.

In the last 3 years, CIEN traded as high as $78.28 and as low as $38.33.

The top ETF exchange traded funds that CIEN belongs to (by Net Assets): IJH, VTI, VB, VXF, VBK.

CIEN has outperformed the market in the last year with a return of +47.8%, while the SPY ETF gained +31.5%. In the last 3 month period, CIEN beat the market returning +21.8%, while SPY returned +6.0%. However, in the most recent 2 weeks CIEN has underperformed the stock market by returning -2.9%, while SPY returned -0.1%.

CIEN support price is $65.64 and resistance is $68.56 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that CIEN shares will trade within this expected range on the day.