Ceragon Networks (NASDAQ:CRNT) Stock Crosses Above Two Hundred Day Moving Average of $2.80

Ceragon Networks Ltd. (NASDAQ:CRNT) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $2.80 and traded as high as $2.99. Ceragon Networks shares last traded at $2.98, with a volume of 392,200 shares changing hands.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CRNT. Needham & Company LLC restated a “buy” rating and issued a $5.25 target price on shares of Ceragon Networks in a report on Thursday, August 8th. StockNews.com upgraded Ceragon Networks from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, May 29th.

Ceragon Networks Stock Up 3.5 %

The business’s fifty day moving average is $2.71 and its 200-day moving average is $2.80. The company has a market cap of $254.55 million, a PE ratio of 59.61 and a beta of 1.39.

Ceragon Networks (NASDAQ:CRNT) last released its quarterly earnings results on Wednesday, August 7th. The communications equipment provider reported $0.10 earnings per share for the quarter. Ceragon Networks had a net margin of 2.87% and a return on equity of 13.94%. The business had revenue of $96.09 million for the quarter. Analysts forecast that Ceragon Networks Ltd. will post 0.24 EPS for the current fiscal year.

Institutional Trading of Ceragon Networks

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. WINTON GROUP Ltd bought a new position in shares of Ceragon Networks during the 2nd quarter valued at approximately $26,000. Eagle Wealth Strategies LLC bought a new position in shares of Ceragon Networks in the first quarter worth approximately $31,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Ceragon Networks in the second quarter worth $56,000. Sei Investments Co. increased its stake in shares of Ceragon Networks by 45.7% in the second quarter. Sei Investments Co. now owns 27,423 shares of the communications equipment provider’s stock worth $69,000 after purchasing an additional 8,607 shares in the last quarter. Finally, Worth Venture Partners LLC raised its position in shares of Ceragon Networks by 17.8% during the 4th quarter. Worth Venture Partners LLC now owns 87,271 shares of the communications equipment provider’s stock valued at $189,000 after purchasing an additional 13,174 shares during the period. Hedge funds and other institutional investors own 13.31% of the company’s stock.

About Ceragon Networks

Ceragon Networks Ltd., together with its subsidiaries, provides wireless transport solutions for cellular operators and other wireless service providers in North America, Europe, Africa, the Asia Pacific, the Middle East, India, and Latin America. The company's solutions use microwave and millimeter wave radio technology to transfer telecommunication traffic between base stations, small/distributed cells, and the service provider's network.