Ceragon Networks (NASDAQ:CRNT) Shares Pass Above 200 Day Moving Average – What’s Next?

Ceragon Networks Ltd. (NASDAQ:CRNT)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $3.09 and traded as high as $5.63. Ceragon Networks shares last traded at $5.48, with a volume of 8,099,058 shares changing hands.

Analyst Ratings Changes

CRNT has been the subject of a number of analyst reports. Litchfield Hills Research started coverage on shares of Ceragon Networks in a research note on Tuesday, December 3rd. They issued a “buy” rating and a $10.00 price objective for the company. Needham & Company LLC reiterated a “buy” rating and issued a $6.00 price target (up previously from $4.50) on shares of Ceragon Networks in a research note on Wednesday, December 4th. Roth Capital upgraded Ceragon Networks to a “strong-buy” rating in a research report on Monday, October 28th. Finally, Roth Mkm started coverage on Ceragon Networks in a research report on Monday, October 28th. They set a “buy” rating and a $4.50 target price for the company. Three equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $6.83.

Ceragon Networks Stock Up 15.9 %

The company has a market capitalization of $468.09 million, a PE ratio of 24.91 and a beta of 1.60. The company’s 50 day moving average is $3.86 and its two-hundred day moving average is $3.09.

Institutional Investors Weigh In On Ceragon Networks

Several large investors have recently made changes to their positions in CRNT. WINTON GROUP Ltd purchased a new position in Ceragon Networks during the 2nd quarter valued at approximately $26,000. Cubist Systematic Strategies LLC purchased a new position in shares of Ceragon Networks in the second quarter valued at $56,000. Sei Investments Co. increased 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 worth $69,000 after purchasing an additional 8,607 shares during the last quarter. JPMorgan Chase & Co. purchased a new stake in Ceragon Networks during the third quarter valued at $104,000. Finally, XTX Topco Ltd bought a new position in Ceragon Networks during the third quarter valued at $152,000. 13.31% of the stock is owned by institutional investors.

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.