Ceragon Networks (NASDAQ:CRNT) announced its quarterly earnings results on Sunday. The communications equipment provider reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.03, MarketWatch Earnings reports. Ceragon Networks had a negative net margin of 5.72% and a negative return on equity of 10.43%.
Shares of CRNT stock remained flat at $$3.33 during trading on Tuesday. The company had a trading volume of 67,292 shares, compared to its average volume of 3,915,574. The stock has a 50 day moving average price of $3.79 and a 200 day moving average price of $3.58. Ceragon Networks has a 1-year low of $1.95 and a 1-year high of $6.90. The firm has a market cap of $277.39 million, a P/E ratio of -17.53, a PEG ratio of 8.08 and a beta of 2.03.
Several research firms have commented on CRNT. Zacks Investment Research upgraded shares of Ceragon Networks from a “strong sell” rating to a “hold” rating in a research report on Monday, April 12th. Needham & Company LLC upgraded Ceragon Networks from a “hold” rating to a “buy” rating and set a $4.50 price objective for the company in a report on Tuesday. Finally, Oppenheimer raised Ceragon Networks from a “market perform” rating to an “outperform” rating in a research note on Monday, March 1st.
Ceragon Networks Ltd. provides wireless backhaul solutions that enable cellular operators and other wireless service providers to deliver voice and data services. Its wireless backhaul solutions use microwave and millimeter wave technology to transfer telecommunication traffic between base stations, small/distributed cells, and the core of the service provider's network.
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