Ceragon Networks (NASDAQ:CRNT) Shares Cross Above 200-Day Moving Average – What’s Next?

Ceragon Networks Ltd. (NASDAQ:CRNT)’s stock price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $2.20 and traded as high as $2.35. Ceragon Networks shares last traded at $2.33, with a volume of 514,272 shares traded.

Wall Street Analyst Weigh In

CRNT has been the subject of several recent analyst reports. Needham & Company LLC reissued a “buy” rating and set a $3.00 price objective on shares of Ceragon Networks in a report on Wednesday, November 12th. Zacks Research cut shares of Ceragon Networks from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 20th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Ceragon Networks in a report on Monday, December 29th. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Ceragon Networks currently has an average rating of “Hold” and a consensus target price of $4.00.

Ceragon Networks Trading Up 1.7%

The stock’s 50-day moving average price is $2.13 and its 200-day moving average price is $2.20. The company has a market capitalization of $207.21 million, a P/E ratio of 116.56 and a beta of 1.07.

Ceragon Networks (NASDAQ:CRNT) last released its quarterly earnings data on Wednesday, November 12th. The communications equipment provider reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.02). Ceragon Networks had a return on equity of 6.67% and a net margin of 0.38%.The business had revenue of $85.48 million for the quarter, compared to analyst estimates of $83.48 million. Sell-side analysts expect that Ceragon Networks Ltd. will post 0.26 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. CSM Advisors LLC bought a new position in Ceragon Networks during the 3rd quarter worth $4,819,000. Private Advisor Group LLC acquired a new position in shares of Ceragon Networks during the third quarter valued at $2,247,000. First Wilshire Securities Management Inc. grew its position in shares of Ceragon Networks by 23.6% during the second quarter. First Wilshire Securities Management Inc. now owns 4,058,774 shares of the communications equipment provider’s stock worth $9,985,000 after acquiring an additional 775,782 shares during the last quarter. Squarepoint Ops LLC increased its holdings in shares of Ceragon Networks by 642.7% in the 2nd quarter. Squarepoint Ops LLC now owns 552,939 shares of the communications equipment provider’s stock worth $1,360,000 after acquiring an additional 478,489 shares during the period. Finally, Essex Investment Management Co. LLC increased its holdings in shares of Ceragon Networks by 36.9% in the 3rd quarter. Essex Investment Management Co. LLC now owns 1,418,197 shares of the communications equipment provider’s stock worth $3,304,000 after acquiring an additional 382,058 shares during the period. Institutional investors and hedge funds own 13.31% of the company’s stock.

About Ceragon Networks

Ceragon Networks Ltd. is a global provider of wireless backhaul solutions, specializing in high-capacity, low-latency connectivity for mobile operators and private networks. The company designs and manufactures a portfolio of microwave and millimeter-wave equipment that serves as a fiber alternative for carrying voice, data and video traffic between cell sites and core networks. Ceragon’s solutions are engineered to support the rigorous performance requirements of modern 4G and 5G deployments, with an emphasis on scalability, reliability and efficient spectrum utilization.

The company’s product lineup includes point-to-point and multi-point radio platforms, as well as software-driven network management tools that enable operators to plan, deploy and monitor end-to-end transport networks.