Ceragon Networks (NASDAQ:CRNT) Share Price Passes Above 200 Day Moving Average – Should You 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 $2.25 and traded as high as $2.58. Ceragon Networks shares last traded at $2.53, with a volume of 608,064 shares changing hands.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on CRNT shares. Zacks Research downgraded Ceragon Networks from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 20th. Weiss Ratings restated a “hold (c-)” rating on shares of Ceragon Networks in a research report on Friday, March 27th. Finally, Lake Street Capital began coverage on Ceragon Networks in a research report on Tuesday, March 31st. They set a “buy” rating and a $3.50 price objective for the company. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Ceragon Networks presently has an average rating of “Hold” and an average target price of $3.50.

Ceragon Networks Trading Up 0.8%

The firm has a market capitalization of $222.74 million, a P/E ratio of -126.00 and a beta of 1.24. The firm has a 50-day moving average of $2.28 and a two-hundred day moving average of $2.25.

Ceragon Networks (NASDAQ:CRNT) last announced its quarterly earnings data on Tuesday, February 17th. The communications equipment provider reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.01). Ceragon Networks had a positive return on equity of 3.52% and a negative net margin of 0.62%.The business had revenue of $82.33 million for the quarter, compared to the consensus estimate of $84.23 million. On average, sell-side analysts anticipate that Ceragon Networks Ltd. will post 0.26 EPS for the current fiscal year.

Hedge Funds Weigh In On Ceragon Networks

Institutional investors and hedge funds have recently bought and sold shares of the company. BNP Paribas Financial Markets acquired a new position in Ceragon Networks in the 2nd quarter worth about $26,000. Jones Financial Companies Lllp increased its holdings in Ceragon Networks by 283.3% in the 3rd quarter. Jones Financial Companies Lllp now owns 11,500 shares of the communications equipment provider’s stock worth $27,000 after purchasing an additional 8,500 shares in the last quarter. Walleye Capital LLC acquired a new position in Ceragon Networks in the 4th quarter worth about $27,000. Tamar Securities LLC increased its holdings in Ceragon Networks by 67.3% in the 4th quarter. Tamar Securities LLC now owns 17,016 shares of the communications equipment provider’s stock worth $36,000 after purchasing an additional 6,848 shares in the last quarter. Finally, HRT Financial LP increased its holdings in Ceragon Networks by 44.3% in the 4th quarter. HRT Financial LP now owns 19,660 shares of the communications equipment provider’s stock worth $41,000 after purchasing an additional 6,039 shares in the last quarter. Institutional investors and hedge funds own 13.31% of the company’s stock.

About Ceragon Networks

Ceragon Networks Ltd. is a global provider of wireless backhaul solutions, specializing in high-capacity, low-latency connectivity for mobile operators and private networks. The company designs and manufactures a portfolio of microwave and millimeter-wave equipment that serves as a fiber alternative for carrying voice, data and video traffic between cell sites and core networks. Ceragon’s solutions are engineered to support the rigorous performance requirements of modern 4G and 5G deployments, with an emphasis on scalability, reliability and efficient spectrum utilization.

The company’s product lineup includes point-to-point and multi-point radio platforms, as well as software-driven network management tools that enable operators to plan, deploy and monitor end-to-end transport networks.