Ceragon Networks (NASDAQ:CRNT) Shares Cross Above 200 Day Moving Average – Here’s What Happened

Ceragon Networks Ltd. (NASDAQ:CRNT) shares crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $2.38 and traded as high as $2.89. Ceragon Networks shares last traded at $2.67, with a volume of 788,067 shares changing hands.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on CRNT shares. Weiss Ratings upgraded Ceragon Networks from a “sell (d)” rating to a “sell (d+)” rating in a research report on Tuesday, May 26th. Craig Hallum restated a “buy” rating and set a $4.00 target price on shares of Ceragon Networks in a report on Wednesday, May 20th. Zacks Research raised Ceragon Networks from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 21st. Roth Mkm reiterated a “buy” rating and issued a $4.50 price target on shares of Ceragon Networks in a report on Tuesday, May 19th. Finally, Lake Street Capital assumed coverage on shares of Ceragon Networks in a report on Tuesday, March 31st. They issued a “buy” rating and a $3.50 price target on the stock. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Ceragon Networks has a consensus rating of “Moderate Buy” and a consensus target price of $3.75.

Ceragon Networks Stock Down 1.1%

The firm has a fifty day moving average price of $2.68 and a two-hundred day moving average price of $2.38. The stock has a market capitalization of $242.68 million, a P/E ratio of -133.50 and a beta of 1.35.

Ceragon Networks (NASDAQ:CRNT) last posted its quarterly earnings results on Wednesday, April 15th. The communications equipment provider reported $0.01 earnings per share (EPS) for the quarter. The firm had revenue of $85.00 million during the quarter. Ceragon Networks had a positive return on equity of 2.27% and a negative net margin of 0.73%. Sell-side analysts anticipate that Ceragon Networks Ltd. will post 0.12 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CRNT. BNP Paribas Financial Markets bought a new position in shares of Ceragon Networks in the second quarter worth approximately $26,000. Jones Financial Companies Lllp increased its position in shares of Ceragon Networks by 283.3% during the third quarter. Jones Financial Companies Lllp now owns 11,500 shares of the communications equipment provider’s stock valued at $27,000 after acquiring an additional 8,500 shares in the last quarter. Walleye Capital LLC bought a new stake in shares of Ceragon Networks during the fourth quarter valued at approximately $27,000. Tamar Securities LLC raised its holdings in Ceragon Networks by 67.3% in the 4th quarter. Tamar Securities LLC now owns 17,016 shares of the communications equipment provider’s stock worth $36,000 after acquiring an additional 6,848 shares during the last quarter. Finally, HRT Financial LP raised its holdings 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 worth $41,000 after acquiring an additional 6,039 shares during the last quarter. Institutional investors own 13.31% of the company’s stock.

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.