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

Ceragon Networks Ltd. (NASDAQ:CRNT) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $2.66 and traded as high as $3.18. Ceragon Networks shares last traded at $2.79, with a volume of 3,185,265 shares traded.

Analyst Ratings Changes

CRNT has been the subject of several recent analyst reports. Roth Capital raised Ceragon Networks to a “strong-buy” rating in a report on Monday, October 28th. Roth Mkm initiated coverage on Ceragon Networks in a research report on Monday, October 28th. They issued a “buy” rating and a $4.50 target price for the company. Finally, Needham & Company LLC restated a “buy” rating and issued a $5.25 target price on shares of Ceragon Networks in a research report on Thursday, August 8th. Two investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Strong Buy” and a consensus target price of $4.88.

Ceragon Networks Stock Up 9.0 %

The company has a 50-day simple moving average of $2.60 and a two-hundred day simple moving average of $2.66. The stock has a market cap of $238.32 million, a P/E ratio of 23.25 and a beta of 1.35.

Institutional Trading of Ceragon Networks

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Sei Investments Co. lifted its position in Ceragon Networks by 45.7% in the second quarter. Sei Investments Co. now owns 27,423 shares of the communications equipment provider’s stock valued at $69,000 after purchasing an additional 8,607 shares during the last quarter. WINTON GROUP Ltd bought a new position in shares of Ceragon Networks during the second quarter valued at approximately $26,000. Perritt Capital Management Inc. raised its holdings in shares of Ceragon Networks by 6.7% during the first quarter. Perritt Capital Management Inc. now owns 217,600 shares of the communications equipment provider’s stock valued at $696,000 after acquiring an additional 13,600 shares in the last quarter. Cubist Systematic Strategies LLC bought a new position in shares of Ceragon Networks during the second quarter valued at approximately $56,000. Finally, Lazard Asset Management LLC raised its holdings in shares of Ceragon Networks by 9,906.9% during the first quarter. Lazard Asset Management LLC now owns 94,765 shares of the communications equipment provider’s stock valued at $303,000 after acquiring an additional 93,818 shares in the last quarter. Institutional investors own 13.31% of the company’s stock.

Ceragon Networks Company Profile

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.