Ceragon Networks (NASDAQ:CRNT) Stock Passes Above 200-Day Moving Average – Here’s What Happened
by Jessica Moore · The Cerbat GemShares of Ceragon Networks Ltd. (NASDAQ:CRNT – Get Free Report) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $2.25 and traded as high as $2.27. Ceragon Networks shares last traded at $2.24, with a volume of 448,517 shares trading hands.
Wall Street Analyst Weigh In
Several equities research analysts recently issued reports on the company. Lake Street Capital assumed coverage on Ceragon Networks in a report on Tuesday, March 31st. They issued a “buy” rating and a $3.50 price objective on the stock. Weiss Ratings reiterated a “hold (c-)” rating on shares of Ceragon Networks in a report on Friday, March 27th. Finally, Zacks Research downgraded Ceragon Networks from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 20th. Three 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. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $3.50.
View Our Latest Report on CRNT
Ceragon Networks Trading Up 1.7%
The stock has a market cap of $208.10 million, a PE ratio of -117.00 and a beta of 1.24. The company has a fifty day moving average of $2.26 and a 200-day moving average of $2.25.
Ceragon Networks (NASDAQ:CRNT – Get Free Report) last released its 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 positive return on equity of 3.52% and a negative net margin of 0.62%.The company had revenue of $82.33 million for the quarter, compared to analyst estimates of $84.23 million. As a group, research analysts anticipate that Ceragon Networks Ltd. will post 0.26 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Ceragon Networks
Several large investors have recently bought and sold shares of the stock. Aristides Capital LLC increased its holdings in Ceragon Networks by 4.5% during the 4th quarter. Aristides Capital LLC now owns 141,130 shares of the communications equipment provider’s stock worth $296,000 after purchasing an additional 6,130 shares during the period. Virtu Financial LLC purchased a new stake in Ceragon Networks during the 4th quarter worth about $102,000. XTX Topco Ltd increased its holdings in Ceragon Networks by 328.4% during the 4th quarter. XTX Topco Ltd now owns 230,857 shares of the communications equipment provider’s stock worth $485,000 after purchasing an additional 176,965 shares during the period. Private Advisor Group LLC increased its holdings in Ceragon Networks by 47.4% during the 4th quarter. Private Advisor Group LLC now owns 1,420,888 shares of the communications equipment provider’s stock worth $2,984,000 after purchasing an additional 456,710 shares during the period. Finally, Tamar Securities LLC increased its holdings in Ceragon Networks by 67.3% during the 4th quarter. Tamar Securities LLC now owns 17,016 shares of the communications equipment provider’s stock worth $36,000 after purchasing an additional 6,848 shares during the period. Hedge funds and other institutional investors 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.