Ceragon Networks (NASDAQ:CRNT) Share Price Crosses Above 200 Day Moving Average of $2.35

Ceragon Networks Ltd. (NASDAQ:CRNT) shares crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $2.35 and traded as high as $2.91. Ceragon Networks shares last traded at $2.77, with a volume of 832,452 shares trading hands.

Analysts Set New Price Targets

A number of research analysts have recently commented on CRNT shares. Needham & Company LLC reissued a “buy” rating and set a $5.25 price target on shares of Ceragon Networks in a report on Wednesday, February 21st. StockNews.com lowered Ceragon Networks from a “strong-buy” rating to a “buy” rating in a report on Saturday, March 2nd.

Ceragon Networks Price Performance

The business has a fifty day moving average of $2.96 and a 200-day moving average of $2.35. The stock has a market capitalization of $236.61 million, a price-to-earnings ratio of 39.58 and a beta of 1.48.

Ceragon Networks (NASDAQ:CRNT) last released its earnings results on Tuesday, February 20th. The communications equipment provider reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.01. The firm had revenue of $90.36 million for the quarter. Ceragon Networks had a return on equity of 9.95% and a net margin of 1.79%. During the same period in the previous year, the firm earned ($0.01) earnings per share. As a group, research analysts anticipate that Ceragon Networks Ltd. will post 0.18 EPS for the current year.

Hedge Funds Weigh In On Ceragon Networks

A number of institutional investors have recently bought and sold shares of CRNT. Acadian Asset Management LLC purchased a new position in Ceragon Networks in the 3rd quarter worth about $1,291,000. Goldman Sachs Group Inc. increased its stake in Ceragon Networks by 772.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 543,037 shares of the communications equipment provider’s stock worth $1,157,000 after purchasing an additional 480,796 shares in the last quarter. First Wilshire Securities Management Inc. increased its stake in Ceragon Networks by 18.4% in the 3rd quarter. First Wilshire Securities Management Inc. now owns 3,011,562 shares of the communications equipment provider’s stock worth $6,174,000 after purchasing an additional 467,998 shares in the last quarter. Legato Capital Management LLC purchased a new position in Ceragon Networks in the 2nd quarter worth about $690,000. Finally, Essex Investment Management Co. LLC boosted its position in Ceragon Networks by 33.4% during the 3rd quarter. Essex Investment Management Co. LLC now owns 1,137,973 shares of the communications equipment provider’s stock worth $2,333,000 after acquiring an additional 284,960 shares during the period. Hedge funds and other 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.