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

Ceragon Networks Ltd. (NASDAQ:CRNT) shares 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 trading hands.

Analysts Set New Price Targets

CRNT has been the subject of a number of research reports. Needham & Company LLC reissued a “buy” rating and set a $5.25 price objective on shares of Ceragon Networks in a research report on Wednesday, February 21st. StockNews.com lowered Ceragon Networks from a “strong-buy” rating to a “buy” rating in a report on Saturday, March 2nd.

Ceragon Networks Price Performance

The stock has a market capitalization of $238.32 million, a P/E ratio of 39.86 and a beta of 1.48. The firm has a 50 day moving average of $2.97 and a 200-day moving average of $2.35.

Ceragon Networks (NASDAQ:CRNT) last issued its quarterly earnings results on Tuesday, February 20th. The communications equipment provider reported $0.03 earnings per share (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 prior year, the firm earned ($0.01) earnings per share. As a group, equities 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 have recently added to or reduced their stakes in CRNT. Renaissance Technologies LLC boosted its holdings in Ceragon Networks by 20.2% during the first quarter. Renaissance Technologies LLC now owns 654,135 shares of the communications equipment provider’s stock valued at $1,393,000 after purchasing an additional 110,093 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Ceragon Networks by 171.1% in the 1st quarter. Invesco Ltd. now owns 214,051 shares of the communications equipment provider’s stock worth $456,000 after acquiring an additional 135,085 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Ceragon Networks by 772.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 543,037 shares of the communications equipment provider’s stock worth $1,157,000 after acquiring an additional 480,796 shares in the last quarter. Jane Street Group LLC acquired a new position in shares of Ceragon Networks in the 1st quarter worth approximately $25,000. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Ceragon Networks by 72.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 164,057 shares of the communications equipment provider’s stock worth $422,000 after acquiring an additional 69,051 shares in the last quarter. 13.31% of the stock is owned by institutional investors and hedge funds.

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.