Ceragon Networks (NASDAQ:CRNT) Stock Price Crosses Above Two Hundred Day Moving Average – Time to Sell?

Ceragon Networks Ltd. (NASDAQ:CRNT) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $2.31 and traded as high as $3.26. Ceragon Networks shares last traded at $3.20, with a volume of 1,156,580 shares trading hands.

Analyst Upgrades and Downgrades

Several research firms recently commented on CRNT. Weiss Ratings raised Ceragon Networks from a “sell (d)” rating to a “sell (d+)” rating in a research report on Tuesday, May 26th. Craig Hallum reissued a “buy” rating and set a $4.00 price target on shares of Ceragon Networks in a research report on Wednesday, May 20th. Roth Mkm reissued a “buy” rating and set a $4.50 price target on shares of Ceragon Networks in a research report on Tuesday, May 19th. Lake Street Capital began coverage on Ceragon Networks in a research report on Tuesday, March 31st. They set a “buy” rating and a $3.50 price target on the stock. Finally, Wall Street Zen raised Ceragon Networks from a “hold” rating to a “strong-buy” rating in a research report on Saturday, May 23rd. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $3.75.

Ceragon Networks Trading Up 4.2%

The firm has a 50-day moving average of $2.53 and a 200 day moving average of $2.31. The stock has a market capitalization of $290.85 million, a price-to-earnings ratio of -160.00 and a beta of 1.35.

Ceragon Networks (NASDAQ:CRNT) last released its quarterly earnings results on Wednesday, April 15th. The communications equipment provider reported $0.01 EPS for the quarter. Ceragon Networks had a positive return on equity of 2.27% and a negative net margin of 0.73%.The firm had revenue of $85.00 million for the quarter. As a group, research analysts forecast that Ceragon Networks Ltd. will post 0.12 EPS for the current year.

Hedge Funds Weigh In On Ceragon Networks

A number of institutional investors have recently made changes to their positions in CRNT. NewEdge Advisors LLC boosted its stake in Ceragon Networks by 132.2% during the 1st quarter. NewEdge Advisors LLC now owns 106,255 shares of the communications equipment provider’s stock valued at $250,000 after acquiring an additional 60,498 shares during the last quarter. Qube Research & Technologies Ltd boosted its stake in Ceragon Networks by 100.4% during the 2nd quarter. Qube Research & Technologies Ltd now owns 580,093 shares of the communications equipment provider’s stock valued at $1,427,000 after acquiring an additional 290,695 shares during the last quarter. Squarepoint Ops LLC boosted its stake in Ceragon Networks by 642.7% during the 2nd quarter. Squarepoint Ops LLC now owns 552,939 shares of the communications equipment provider’s stock valued at $1,360,000 after acquiring an additional 478,489 shares during the last quarter. Bank of America Corp DE boosted its stake in Ceragon Networks by 31.7% during the 2nd quarter. Bank of America Corp DE now owns 372,961 shares of the communications equipment provider’s stock valued at $917,000 after acquiring an additional 89,821 shares during the last quarter. Finally, Boothbay Fund Management LLC raised its stake in shares of Ceragon Networks by 85.6% in the 2nd quarter. Boothbay Fund Management LLC now owns 134,364 shares of the communications equipment provider’s stock valued at $331,000 after purchasing an additional 61,976 shares in the last quarter. 13.31% of the stock is owned by institutional investors and hedge funds.

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.