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

Ceragon Networks Ltd. (NASDAQ:CRNT – Get 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:CRNT – Get 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

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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.