Ceragon Networks (NASDAQ:CRNT) Share Price Passes Above Two Hundred Day Moving Average – Time to Sell?

Ceragon Networks Ltd. (NASDAQ:CRNT)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $2.88 and traded as high as $4.65. Ceragon Networks shares last traded at $4.31, with a volume of 1,799,289 shares trading hands.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Roth Mkm started coverage on Ceragon Networks in a research report on Monday, October 28th. They issued a “buy” rating and a $4.50 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 report on Wednesday, December 4th. Litchfield Hills Research assumed coverage on shares of Ceragon Networks in a report on Tuesday, December 3rd. They set a “buy” rating and a $10.00 price objective on the stock. Finally, Roth Capital raised Ceragon Networks to a “strong-buy” rating in a research report on Monday, October 28th. Three research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $6.83.

Ceragon Networks Stock Performance

The firm has a fifty day simple moving average of $3.26 and a 200-day simple moving average of $2.88. The firm has a market cap of $368.15 million, a price-to-earnings ratio of 19.59 and a beta of 1.61.

Institutional Investors Weigh In On Ceragon Networks

Institutional investors have recently made changes to their positions in the company. Acadian Asset Management LLC boosted its stake in Ceragon Networks by 25.7% in the 2nd quarter. Acadian Asset Management LLC now owns 1,955,161 shares of the communications equipment provider’s stock valued at $4,878,000 after purchasing an additional 400,161 shares during the period. Renaissance Technologies LLC grew its stake in shares of Ceragon Networks by 35.4% in the second quarter. Renaissance Technologies LLC now owns 643,816 shares of the communications equipment provider’s stock valued at $1,610,000 after acquiring an additional 168,416 shares in the last quarter. Walleye Capital LLC increased its position in Ceragon Networks by 95.1% during the third quarter. Walleye Capital LLC now owns 283,933 shares of the communications equipment provider’s stock worth $778,000 after acquiring an additional 138,411 shares during the period. XTX Topco Ltd acquired a new stake in Ceragon Networks in the 3rd quarter worth about $152,000. Finally, Cubist Systematic Strategies LLC bought a new stake in Ceragon Networks in the 2nd quarter valued at about $56,000. 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.