Ceragon Networks Ltd. (NASDAQ:CRNT)’s share price rose 3% on Tuesday . The company traded as high as $2.79 and last traded at $2.74, with a volume of 250,617 shares. The stock had previously closed at $2.66.

Several research firms have recently commented on CRNT. Needham & Company LLC increased their target price on Ceragon Networks from $2.00 to $2.50 and gave the company a “buy” rating in a research note on Monday, July 18th. Zacks Investment Research raised Ceragon Networks from a “hold” rating to a “buy” rating and set a $2.25 price target on the stock in a report on Tuesday, July 12th. Jefferies Group raised their price target on Ceragon Networks from $1.50 to $2.00 and gave the company a “hold” rating in a report on Tuesday, August 9th. Finally, TheStreet raised Ceragon Networks from a “sell” rating to a “hold” rating in a report on Monday, August 8th.

The company’s 50-day moving average price is $2.38 and its 200 day moving average price is $1.73. The firm has a market cap of $213.60 million, a P/E ratio of 36.67 and a beta of 1.13.

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Ceragon Networks (NASDAQ:CRNT) last announced its quarterly earnings data on Monday, August 8th. The company reported $0.02 earnings per share for the quarter. Ceragon Networks had a return on equity of 5.78% and a net margin of 2.46%. The company had revenue of $70 million for the quarter, compared to analyst estimates of $67.59 million. During the same quarter last year, the firm earned $0.04 EPS. Ceragon Networks’s revenue for the quarter was down 26.1% compared to the same quarter last year. On average, equities research analysts predict that Ceragon Networks Ltd. will post $0.13 EPS for the current fiscal year.

Hedge funds have recently made changes to their positions in the company. Bridgeway Capital Management Inc. raised its stake in shares of Ceragon Networks by 67.4% in the second quarter. Bridgeway Capital Management Inc. now owns 283,900 shares of the company’s stock valued at $460,000 after buying an additional 114,300 shares during the last quarter. KCG Holdings Inc. raised its stake in shares of Ceragon Networks by 165.3% in the second quarter. KCG Holdings Inc. now owns 66,716 shares of the company’s stock valued at $108,000 after buying an additional 41,568 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Ceragon Networks by 30.5% in the second quarter. Vanguard Group Inc. now owns 747,764 shares of the company’s stock valued at $1,211,000 after buying an additional 174,766 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Ceragon Networks during the second quarter valued at $3,831,000. Finally, Acadian Asset Management LLC purchased a new stake in shares of Ceragon Networks during the second quarter valued at $857,000. 10.81% of the stock is currently owned by institutional investors.

Ceragon Networks Company Profile

Ceragon Networks Ltd. is a provider of wireless backhaul solutions. The Company’s solutions enable cellular operators and other wireless service providers to deliver voice and data services, enabling smart-phone applications, such as Internet browsing, social networking applications, image sharing, music and video applications.

5 Day Chart for NASDAQ:CRNT

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