Ceragon Networks (NASDAQ:CRNT) Stock Crosses Above 200 Day Moving Average – What’s Next?

Ceragon Networks Ltd. (NASDAQ:CRNT)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $2.25 and traded as high as $2.28. Ceragon Networks shares last traded at $2.24, with a volume of 690,333 shares changing hands.

Wall Street Analyst Weigh In

CRNT has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Ceragon Networks in a research note on Monday, December 29th. Zacks Research cut Ceragon Networks from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 20th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $3.50.

Ceragon Networks Price Performance

The firm’s fifty day simple moving average is $2.29 and its 200 day simple moving average is $2.25. The company has a market capitalization of $199.20 million, a price-to-earnings ratio of -112.00 and a beta of 1.20.

Ceragon Networks (NASDAQ:CRNT) last issued its quarterly earnings results on Tuesday, February 17th. The communications equipment provider reported $0.02 EPS for the quarter, missing the consensus estimate of $0.03 by ($0.01). Ceragon Networks had a negative net margin of 0.62% and a positive return on equity of 3.52%. The firm had revenue of $82.33 million during the quarter, compared to analysts’ expectations of $84.23 million. Equities research analysts forecast that Ceragon Networks Ltd. will post 0.26 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. BNP Paribas Financial Markets acquired a new stake in Ceragon Networks during the 2nd quarter worth about $26,000. Jones Financial Companies Lllp lifted its position in shares of Ceragon Networks by 283.3% in the third quarter. Jones Financial Companies Lllp now owns 11,500 shares of the communications equipment provider’s stock worth $27,000 after purchasing an additional 8,500 shares in the last quarter. Walleye Capital LLC acquired a new stake in shares of Ceragon Networks during the fourth quarter worth approximately $27,000. Tamar Securities LLC grew its position in Ceragon Networks by 67.3% during the fourth quarter. Tamar Securities LLC now owns 17,016 shares of the communications equipment provider’s stock valued at $36,000 after purchasing an additional 6,848 shares in the last quarter. Finally, HRT Financial LP increased its stake in Ceragon Networks by 44.3% in the 4th quarter. HRT Financial LP now owns 19,660 shares of the communications equipment provider’s stock valued at $41,000 after buying an additional 6,039 shares during the period. 13.31% of the stock is owned by institutional investors and hedge funds.

Ceragon Networks Company Profile

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.