Ceragon Networks Ltd (NASDAQ:CRNT) shares reached a new 52-week high during trading on Thursday . The stock traded as high as $4.31 and last traded at $4.31, with a volume of 160684 shares traded. The stock had previously closed at $3.96.
Several research analysts recently commented on CRNT shares. ValuEngine upgraded Ceragon Networks from a “hold” rating to a “buy” rating in a research report on Friday, September 28th. BidaskClub upgraded Ceragon Networks from a “hold” rating to a “buy” rating in a research report on Tuesday, July 31st. Oppenheimer set a $5.00 price target on Ceragon Networks and gave the stock a “buy” rating in a research report on Monday, November 5th. Zacks Investment Research upgraded Ceragon Networks from a “sell” rating to a “hold” rating in a research report on Friday, September 21st. Finally, CIBC upgraded Ceragon Networks from a “market perform” rating to an “outperform” rating in a research report on Friday, September 28th. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $4.23.
The stock has a market capitalization of $309.43 million, a P/E ratio of 24.17, a PEG ratio of 1.47 and a beta of 0.73.
Ceragon Networks (NASDAQ:CRNT) last released its quarterly earnings results on Monday, November 5th. The communications equipment provider reported $0.07 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.03. The company had revenue of $86.53 million during the quarter, compared to analyst estimates of $82.59 million. Ceragon Networks had a return on equity of 11.15% and a net margin of 5.41%. On average, equities analysts predict that Ceragon Networks Ltd will post 0.18 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently made changes to their positions in CRNT. Jane Street Group LLC lifted its stake in Ceragon Networks by 221.1% in the second quarter. Jane Street Group LLC now owns 50,518 shares of the communications equipment provider’s stock worth $180,000 after purchasing an additional 34,787 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in Ceragon Networks in the second quarter worth about $279,000. BlackRock Inc. bought a new stake in Ceragon Networks in the second quarter worth about $286,000. California Public Employees Retirement System bought a new stake in Ceragon Networks in the first quarter worth about $452,000. Finally, JPMorgan Chase & Co. lifted its stake in Ceragon Networks by 38.6% in the first quarter. JPMorgan Chase & Co. now owns 171,996 shares of the communications equipment provider’s stock worth $463,000 after purchasing an additional 47,910 shares during the last quarter. 22.78% of the stock is owned by institutional investors and hedge funds.
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About Ceragon Networks (NASDAQ:CRNT)
Ceragon Networks Ltd. provides wireless backhaul solutions that enable cellular operators and other wireless service providers to deliver voice and data services worldwide. Its wireless backhaul solutions use microwave radio technology to transfer telecommunication traffic between base stations, small sells, and the core of the service provider's network.
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