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

Ceragon Networks Ltd. (NASDAQ:CRNT) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $2.41 and traded as high as $2.44. Ceragon Networks shares last traded at $2.34, with a volume of 359,575 shares changing hands.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Lake Street Capital started coverage on Ceragon Networks in a research report on Tuesday, March 31st. They issued a “buy” rating and a $3.50 price objective on the stock. Zacks Research raised Ceragon Networks from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 21st. Roth Capital restated a “buy” rating and issued a $4.50 price target on shares of Ceragon Networks in a research note on Tuesday, May 19th. Weiss Ratings raised Ceragon Networks from a “sell (d)” rating to a “sell (d+)” rating in a report on Tuesday, May 26th. Finally, Wall Street Zen raised Ceragon Networks from a “hold” rating to a “strong-buy” rating in a research report on Saturday, May 23rd. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $3.75.

Ceragon Networks Stock Up 3.0%

The stock has a market capitalization of $217.24 million, a PE ratio of -119.50 and a beta of 1.36. The firm’s fifty day moving average price is $2.67 and its two-hundred day moving average price is $2.42.

Ceragon Networks (NASDAQ:CRNT) last issued its earnings results on Wednesday, April 15th. The communications equipment provider reported $0.01 earnings per share (EPS) for the quarter. Ceragon Networks had a negative net margin of 0.73% and a positive return on equity of 2.27%. The company had revenue of $85.00 million for the quarter. As a group, analysts predict that Ceragon Networks Ltd. will post 0.12 EPS for the current year.

Hedge Funds Weigh In On Ceragon Networks

A number of institutional investors and hedge funds have recently modified their holdings of CRNT. CSM Advisors LLC bought a new stake in shares of Ceragon Networks during the 3rd quarter valued at about $4,819,000. Aristides Capital LLC increased its position in shares of Ceragon Networks by 15.5% during the 1st quarter. Aristides Capital LLC now owns 162,963 shares of the communications equipment provider’s stock valued at $352,000 after purchasing an additional 21,833 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new position in shares of Ceragon Networks in the 1st quarter worth approximately $911,000. First Wilshire Securities Management Inc. lifted its stake in shares of Ceragon Networks by 18.0% in the 1st quarter. First Wilshire Securities Management Inc. now owns 4,854,150 shares of the communications equipment provider’s stock worth $10,485,000 after purchasing an additional 740,358 shares during the period. Finally, R Squared Ltd boosted its holdings in shares of Ceragon Networks by 71.3% in the first quarter. R Squared Ltd now owns 55,838 shares of the communications equipment provider’s stock worth $121,000 after buying an additional 23,234 shares during the last quarter. 13.31% of the stock is currently owned by hedge funds and other institutional investors.

Ceragon Networks Company Profile

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.