Ceragon Networks (NASDAQ:CRNT) Share Price Passes Above 200 Day Moving Average of $1.89

Ceragon Networks Ltd. (NASDAQ:CRNT)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $1.89 and traded as high as $1.95. Ceragon Networks shares last traded at $1.90, with a volume of 80,300 shares changing hands.

Wall Street Analyst Weigh In

Several equities analysts have commented on CRNT shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $5.25 price target on shares of Ceragon Networks in a report on Wednesday, August 2nd. StockNews.com assumed coverage on Ceragon Networks in a report on Thursday, August 17th. They set a “buy” rating on the stock.

Ceragon Networks Stock Down 2.6 %

The stock’s fifty day moving average price is $2.06 and its 200-day moving average price is $1.89. The company has a market capitalization of $160.11 million, a price-to-earnings ratio of 19.00 and a beta of 1.40.

Ceragon Networks (NASDAQ:CRNT) last posted its quarterly earnings results on Tuesday, August 1st. The communications equipment provider reported $0.04 EPS for the quarter. Ceragon Networks had a return on equity of 6.23% and a net margin of 0.14%. The business had revenue of $86.15 million during the quarter.

Hedge Funds Weigh In On Ceragon Networks

Large investors have recently made changes to their positions in the company. Jane Street Group LLC bought a new stake in Ceragon Networks in the 1st quarter valued at about $25,000. Verition Fund Management LLC bought a new position in Ceragon Networks in the 4th quarter valued at approximately $25,000. Susquehanna International Group LLP acquired a new stake in Ceragon Networks during the 1st quarter worth approximately $25,000. Tower Research Capital LLC TRC raised its position in 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 during the last quarter. Finally, Ten Capital Wealth Advisors LLC acquired a new position in shares of Ceragon Networks in the second quarter worth approximately $37,000. Institutional investors own 13.77% 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.