Ceragon Networks (NASDAQ:CRNT) Share Price Crosses Above Two Hundred Day Moving Average of $2.12

Ceragon Networks Ltd. (NASDAQ:CRNTGet Rating) shares passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $2.12 and traded as high as $2.20. Ceragon Networks shares last traded at $2.11, with a volume of 135,728 shares changing hands.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Ceragon Networks from a “hold” rating to a “buy” rating in a research report on Thursday, November 10th.

Ceragon Networks Trading Down 0.9 %

The company has a market cap of $177.80 million, a price-to-earnings ratio of -10.05 and a beta of 1.26. The firm’s fifty day moving average price is $1.96 and its 200-day moving average price is $2.12.

Ceragon Networks (NASDAQ:CRNTGet Rating) last posted its quarterly earnings data on Monday, November 7th. The communications equipment provider reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.05. Ceragon Networks had a negative net margin of 5.68% and a negative return on equity of 4.25%. The company had revenue of $78.65 million for the quarter, compared to the consensus estimate of $75.98 million.

Institutional Investors Weigh In On Ceragon Networks

Several institutional investors have recently made changes to their positions in CRNT. Jane Street Group LLC bought a new position in Ceragon Networks in the 1st quarter valued at approximately $25,000. Dynamic Advisor Solutions LLC bought a new position in shares of Ceragon Networks during the 3rd quarter worth about $27,000. Tower Research Capital LLC TRC boosted its position in shares of Ceragon Networks by 8,127.0% during the 3rd quarter. Tower Research Capital LLC TRC now owns 16,454 shares of the communications equipment provider’s stock worth $30,000 after purchasing an additional 16,254 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Ceragon Networks by 30.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 39,029 shares of the communications equipment provider’s stock valued at $72,000 after buying an additional 9,005 shares during the period. Finally, Alpha Paradigm Partners LLC increased its position in Ceragon Networks by 876.4% in the 3rd quarter. Alpha Paradigm Partners LLC now owns 82,997 shares of the communications equipment provider’s stock valued at $152,000 after buying an additional 74,497 shares in the last quarter. 28.86% of the stock is currently owned by institutional investors.

Ceragon Networks Company Profile

(Get Rating)

Ceragon Networks Ltd. is engaged in the provision of wireless backhaul and fronthaul solutions. Its products include IP-50, IP-20, IP-20 Assured, Pointlink Stabilized Platforms, and Network & Service Management. The company was founded on July 23, 1996 and is headquartered in Tel Aviv, Israel.

Further Reading

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