Ceragon Networks (NASDAQ:CRNT) Shares Cross Above 200-Day Moving Average – Should You Sell?

Ceragon Networks Ltd. (NASDAQ:CRNT)’s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $2.41 and traded as high as $2.44. Ceragon Networks shares last traded at $2.34, with a volume of 359,575 shares changing hands.

Analyst Upgrades and Downgrades

CRNT has been the topic of a number of recent analyst reports. Roth Capital reaffirmed a “buy” rating and set a $4.50 price target on shares of Ceragon Networks in a research note on Tuesday, May 19th. Lake Street Capital started coverage on shares of Ceragon Networks in a report on Tuesday, March 31st. They set a “buy” rating and a $3.50 price objective on the stock. Weiss Ratings raised shares of Ceragon Networks from a “sell (d)” rating to a “sell (d+)” rating in a report on Tuesday, May 26th. Wall Street Zen upgraded shares of Ceragon Networks from a “hold” rating to a “strong-buy” rating in a research report on Saturday, May 23rd. Finally, Craig Hallum reissued a “buy” rating and set a $4.00 price target on shares of Ceragon Networks in a research note on Wednesday, May 20th. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Ceragon Networks has an average rating of “Moderate Buy” and a consensus price target of $3.75.

Ceragon Networks Stock Performance

The company has a market capitalization of $212.68 million, a PE ratio of -117.00 and a beta of 1.36. The stock’s fifty day simple moving average is $2.67 and its 200-day simple moving average is $2.41.

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

Institutional Investors Weigh In On Ceragon Networks

Hedge funds and other institutional investors have recently made changes to their positions in the business. NewEdge Advisors LLC boosted its stake in Ceragon Networks by 132.2% in the 1st quarter. NewEdge Advisors LLC now owns 106,255 shares of the communications equipment provider’s stock worth $250,000 after buying an additional 60,498 shares during the last quarter. Qube Research & Technologies Ltd increased its stake in shares of 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 lifted its holdings in shares of Ceragon Networks by 642.7% during 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. Bank of America Corp DE lifted its holdings in shares of 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 worth $917,000 after acquiring an additional 89,821 shares during the period. Finally, Boothbay Fund Management LLC boosted its position in shares of Ceragon Networks by 85.6% in the second quarter. Boothbay Fund Management LLC now owns 134,364 shares of the communications equipment provider’s stock worth $331,000 after acquiring an additional 61,976 shares during the last quarter. Hedge funds and other 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.