Ceragon Networks Ltd. (NASDAQ:CRNT – Get Free Report) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $2.27 and traded as high as $2.67. Ceragon Networks shares last traded at $2.65, with a volume of 504,809 shares traded.
Analysts Set New Price Targets
A number of research firms recently commented on CRNT. Zacks Research upgraded Ceragon Networks from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 21st. Weiss Ratings lowered Ceragon Networks from a “hold (c-)” rating to a “sell (d)” rating in a research note on Monday, April 20th. Finally, Lake Street Capital began coverage on shares of Ceragon Networks in a research report on Tuesday, March 31st. They set a “buy” rating and a $3.50 target price for the company. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $3.50.
Get Our Latest Research Report on Ceragon Networks
Ceragon Networks Trading Up 5.2%
Ceragon Networks (NASDAQ:CRNT – Get Free Report) last issued its quarterly earnings data on Tuesday, February 17th. The communications equipment provider reported $0.02 EPS for the quarter, missing the consensus estimate of $0.03 by ($0.01). Ceragon Networks had a positive return on equity of 3.52% and a negative net margin of 0.62%.The business had revenue of $82.33 million for the quarter, compared to analyst estimates of $84.23 million. Analysts predict that Ceragon Networks Ltd. will post 0.15 EPS for the current fiscal year.
Hedge Funds Weigh In On Ceragon Networks
Institutional investors and hedge funds have recently modified their holdings of the business. CSM Advisors LLC bought a new position in Ceragon Networks in the third quarter valued at approximately $4,819,000. Essex Investment Management Co. LLC increased its position in shares of Ceragon Networks by 36.9% during the third quarter. Essex Investment Management Co. LLC now owns 1,418,197 shares of the communications equipment provider’s stock worth $3,304,000 after acquiring an additional 382,058 shares in the last quarter. Legato Capital Management LLC raised its holdings in shares of Ceragon Networks by 33.1% during the third quarter. Legato Capital Management LLC now owns 410,361 shares of the communications equipment provider’s stock worth $956,000 after acquiring an additional 102,077 shares during the period. GSA Capital Partners LLP lifted its position in Ceragon Networks by 283.2% in the 3rd quarter. GSA Capital Partners LLP now owns 82,577 shares of the communications equipment provider’s stock valued at $192,000 after acquiring an additional 61,027 shares in the last quarter. Finally, Jones Financial Companies Lllp lifted its position in Ceragon Networks by 283.3% in the 3rd quarter. Jones Financial Companies Lllp now owns 11,500 shares of the communications equipment provider’s stock valued at $27,000 after acquiring an additional 8,500 shares in the last quarter. 13.31% of the stock is currently owned by institutional investors and hedge funds.
About Ceragon Networks
Ceragon Networks Ltd. is a global provider of wireless backhaul solutions, specializing in high-capacity, low-latency connectivity for mobile operators and private networks. The company designs and manufactures a portfolio of microwave and millimeter-wave equipment that serves as a fiber alternative for carrying voice, data and video traffic between cell sites and core networks. Ceragon’s solutions are engineered to support the rigorous performance requirements of modern 4G and 5G deployments, with an emphasis on scalability, reliability and efficient spectrum utilization.
The company’s product lineup includes point-to-point and multi-point radio platforms, as well as software-driven network management tools that enable operators to plan, deploy and monitor end-to-end transport networks.
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