Ceragon Networks (NASDAQ:CRNT) Stock Crosses Above 200-Day Moving Average – Should You Sell?

Ceragon Networks Ltd. (NASDAQ:CRNT)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $2.27 and traded as high as $2.67. Ceragon Networks shares last traded at $2.65, with a volume of 504,809 shares traded.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on CRNT shares. Lake Street Capital started coverage on shares of Ceragon Networks in a research note on Tuesday, March 31st. They set a “buy” rating and a $3.50 price target on the stock. Weiss Ratings cut shares of Ceragon Networks from a “hold (c-)” rating to a “sell (d)” rating in a research note on Monday, April 20th. Finally, Zacks Research upgraded shares of Ceragon Networks from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 21st. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $3.50.

Ceragon Networks Trading Down 5.3%

The business’s 50 day moving average is $2.38 and its two-hundred day moving average is $2.27. The company has a market cap of $228.13 million, a PE ratio of -125.50 and a beta of 1.32.

Ceragon Networks (NASDAQ:CRNT) last released its earnings results on Tuesday, February 17th. The communications equipment provider reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). Ceragon Networks had a negative net margin of 0.62% and a positive return on equity of 3.52%. The firm had revenue of $82.33 million for the quarter, compared to analysts’ expectations of $84.23 million. As a group, equities research analysts predict that Ceragon Networks Ltd. will post 0.17 EPS for the current fiscal year.

Institutional Trading of Ceragon Networks

A number of institutional investors and hedge funds have recently bought and sold shares of CRNT. NewEdge Advisors LLC increased its holdings in Ceragon Networks by 132.2% in the 1st quarter. NewEdge Advisors LLC now owns 106,255 shares of the communications equipment provider’s stock valued at $250,000 after acquiring an additional 60,498 shares during the last quarter. Qube Research & Technologies Ltd increased its holdings in Ceragon Networks by 100.4% in the 2nd quarter. Qube Research & Technologies Ltd now owns 580,093 shares of the communications equipment provider’s stock valued at $1,427,000 after acquiring an additional 290,695 shares during the last quarter. Squarepoint Ops LLC increased its holdings in Ceragon Networks by 642.7% in the 2nd quarter. Squarepoint Ops LLC now owns 552,939 shares of the communications equipment provider’s stock valued at $1,360,000 after acquiring an additional 478,489 shares during the last quarter. Bank of America Corp DE increased its holdings in Ceragon Networks by 31.7% in the 2nd quarter. Bank of America Corp DE now owns 372,961 shares of the communications equipment provider’s stock valued at $917,000 after acquiring an additional 89,821 shares during the last quarter. Finally, Boothbay Fund Management LLC increased its holdings in Ceragon Networks by 85.6% in the 2nd quarter. Boothbay Fund Management LLC now owns 134,364 shares of the communications equipment provider’s stock valued at $331,000 after acquiring an additional 61,976 shares during the last quarter. 13.31% of the stock is currently owned by 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.