Ceragon Networks (NASDAQ:CRNT) Share Price Crosses Above 200 Day Moving Average of $2.35

Shares of Ceragon Networks Ltd. (NASDAQ:CRNT) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $2.35 and traded as high as $2.91. Ceragon Networks shares last traded at $2.77, with a volume of 832,452 shares traded.

Analyst Ratings Changes

Several research firms have recently weighed in on CRNT. StockNews.com cut Ceragon Networks from a “strong-buy” rating to a “buy” rating in a research report on Saturday, March 2nd. Needham & Company LLC reissued a “buy” rating and set a $5.25 price target on shares of Ceragon Networks in a research report on Wednesday, February 21st.

Ceragon Networks Price Performance

The company has a market capitalization of $236.61 million, a price-to-earnings ratio of 39.58 and a beta of 1.48. The stock has a 50-day moving average price of $2.96 and a 200-day moving average price of $2.35.

Ceragon Networks (NASDAQ:CRNT) last issued its quarterly earnings data on Tuesday, February 20th. The communications equipment provider reported $0.03 EPS for the quarter, beating analysts’ consensus estimates 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 period in the prior year, the company earned ($0.01) earnings per share. Equities analysts forecast 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 hedge funds have recently bought and sold shares of CRNT. Worth Venture Partners LLC boosted its stake in shares of Ceragon Networks by 13.3% in the third quarter. Worth Venture Partners LLC now owns 74,097 shares of the communications equipment provider’s stock valued at $152,000 after buying an additional 8,700 shares during the period. Eagle Wealth Strategies LLC bought a new stake in shares of Ceragon Networks in the first quarter valued at approximately $31,000. Jane Street Group LLC bought a new stake in shares of Ceragon Networks in the first quarter valued at approximately $25,000. Verition Fund Management LLC bought a new stake in shares of Ceragon Networks in the fourth quarter valued at approximately $25,000. Finally, Susquehanna International Group LLP bought a new stake in shares of Ceragon Networks in the first quarter valued at approximately $25,000. 13.31% of the stock is owned by institutional investors.

Ceragon Networks Company Profile

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.