Ceragon Networks (NASDAQ:CRNT) Share Price Passes Above Two Hundred Day Moving Average of $2.37

Ceragon Networks Ltd. (NASDAQ:CRNT) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $2.37 and traded as high as $2.85. Ceragon Networks shares last traded at $2.79, with a volume of 303,541 shares.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on CRNT shares. StockNews.com cut shares of Ceragon Networks from a “strong-buy” rating to a “buy” rating in a research report on Saturday, March 2nd. Needham & Company LLC reissued a “buy” rating and issued a $5.25 target price on shares of Ceragon Networks in a research report on Wednesday, February 21st.

Ceragon Networks Price Performance

The business’s 50-day moving average price is $2.98 and its 200 day moving average price is $2.37. The firm has a market capitalization of $238.32 million, a price-to-earnings ratio of 39.86 and a beta of 1.48.

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

Institutional Trading of Ceragon Networks

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Acadian Asset Management LLC bought a new stake in Ceragon Networks during the third quarter valued at $1,291,000. Essex Investment Management Co. LLC increased its stake in Ceragon Networks by 33.4% during the third quarter. Essex Investment Management Co. LLC now owns 1,137,973 shares of the communications equipment provider’s stock valued at $2,333,000 after purchasing an additional 284,960 shares during the last quarter. Perritt Capital Management Inc. increased its stake in Ceragon Networks by 14.9% during the third quarter. Perritt Capital Management Inc. now owns 204,000 shares of the communications equipment provider’s stock valued at $418,000 after purchasing an additional 26,500 shares during the last quarter. First Wilshire Securities Management Inc. boosted its holdings in shares of Ceragon Networks by 18.4% during the third quarter. First Wilshire Securities Management Inc. now owns 3,011,562 shares of the communications equipment provider’s stock valued at $6,174,000 after acquiring an additional 467,998 shares during the period. Finally, First Eagle Investment Management LLC boosted its holdings in shares of Ceragon Networks by 33.0% during the third quarter. First Eagle Investment Management LLC now owns 677,251 shares of the communications equipment provider’s stock valued at $1,388,000 after acquiring an additional 168,036 shares during the period. 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.