Ceragon Networks (NASDAQ:CRNT) Share Price Crosses Above Two Hundred Day Moving Average of $2.30

Ceragon Networks Ltd. (NASDAQ:CRNT)’s stock price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $2.30 and traded as high as $3.20. Ceragon Networks shares last traded at $3.19, with a volume of 399,895 shares traded.

Analyst Ratings Changes

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

Ceragon Networks Price Performance

The stock has a market cap of $272.49 million, a PE ratio of 45.58 and a beta of 1.48. The stock has a 50-day moving average price of $2.89 and a two-hundred day moving average price of $2.30.

Ceragon Networks (NASDAQ:CRNT) last announced its earnings results on Tuesday, February 20th. The communications equipment provider reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.01. Ceragon Networks had a return on equity of 9.95% and a net margin of 1.79%. The business had revenue of $90.36 million during the quarter. During the same quarter last year, the firm earned ($0.01) EPS. Equities research analysts expect that Ceragon Networks Ltd. will post 0.18 earnings per share for the current year.

Hedge Funds Weigh In On Ceragon Networks

A number of large investors have recently bought and sold shares of CRNT. Jane Street Group LLC purchased a new stake in shares of Ceragon Networks during the first quarter valued at $25,000. Verition Fund Management LLC purchased a new stake in shares of Ceragon Networks during the fourth quarter valued at $25,000. Susquehanna International Group LLP purchased a new stake in Ceragon Networks in the first quarter valued at $25,000. Tower Research Capital LLC TRC boosted its holdings in Ceragon Networks by 8,127.0% in the third quarter. Tower Research Capital LLC TRC now owns 16,454 shares of the communications equipment provider’s stock valued at $30,000 after purchasing an additional 16,254 shares during the last quarter. Finally, ExodusPoint Capital Management LP acquired a new position in shares of Ceragon Networks in the fourth quarter worth about $37,000. Institutional investors own 13.31% of the company’s stock.

Ceragon Networks Company Profile

Ceragon Networks Ltd. provides wireless transport solutions for cellular operators and other wireless service providers. Its solutions use microwave and millimeter wave radio technology to transfer telecommunication traffic between base stations, small/distributed cells, and service provider's network.