Ceragon Networks (NASDAQ:CRNT) Share Price Passes Above Two Hundred Day Moving Average of $2.37

Ceragon Networks Ltd. (NASDAQ:CRNT) shares passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $2.37 and traded as high as $2.85. Ceragon Networks shares last traded at $2.79, with a volume of 303,541 shares trading hands.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on CRNT shares. StockNews.com lowered Ceragon Networks from a “strong-buy” rating to a “buy” rating in a research report on Saturday, March 2nd. Needham & Company LLC reiterated a “buy” rating and issued a $5.25 price objective on shares of Ceragon Networks in a research report on Wednesday, February 21st.

Ceragon Networks Trading Up 1.1 %

The stock has a market cap of $238.32 million, a P/E ratio of 39.86 and a beta of 1.48. The company has a 50 day simple moving average of $2.98 and a 200 day simple moving average of $2.37.

Ceragon Networks (NASDAQ:CRNT) last released its earnings results on Tuesday, February 20th. The communications equipment provider reported $0.03 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 firm had revenue of $90.36 million for the quarter. During the same quarter in the previous year, the firm posted ($0.01) EPS. As a group, sell-side analysts expect that Ceragon Networks Ltd. will post 0.18 earnings per share for the current year.

Institutional Investors Weigh In On Ceragon Networks

A number of institutional investors and hedge funds have recently made changes to their positions in CRNT. First Eagle Investment Management LLC raised its stake in shares of Ceragon Networks by 33.0% during the 3rd quarter. First Eagle Investment Management LLC now owns 677,251 shares of the communications equipment provider’s stock worth $1,388,000 after purchasing an additional 168,036 shares in the last quarter. Essex Investment Management Co. LLC raised its stake in shares of Ceragon Networks by 33.4% during the 3rd quarter. Essex Investment Management Co. LLC now owns 1,137,973 shares of the communications equipment provider’s stock worth $2,333,000 after purchasing an additional 284,960 shares in the last quarter. Acadian Asset Management LLC bought a new stake in Ceragon Networks in the 3rd quarter valued at $1,291,000. First Wilshire Securities Management Inc. raised its stake in Ceragon Networks by 18.4% in the 3rd quarter. First Wilshire Securities Management Inc. now owns 3,011,562 shares of the communications equipment provider’s stock valued at $6,174,000 after acquiring an additional 467,998 shares during the period. Finally, Perritt Capital Management Inc. raised its stake in Ceragon Networks by 14.9% in the 3rd quarter. Perritt Capital Management Inc. now owns 204,000 shares of the communications equipment provider’s stock valued at $418,000 after acquiring an additional 26,500 shares during the period. Institutional investors own 13.31% of the company’s stock.

About Ceragon Networks

Ceragon Networks Ltd., together with its subsidiaries, provides wireless transport solutions for cellular operators and other wireless service providers in North America, Europe, Africa, the Asia Pacific, the Middle East, India, and Latin America. The company's solutions use microwave and millimeter wave radio technology to transfer telecommunication traffic between base stations, small/distributed cells, and the service provider's network.