Ceragon Networks (NASDAQ:CRNT) Stock Price Passes Above 200 Day Moving Average – Time to Sell?

Ceragon Networks Ltd. (NASDAQ:CRNT) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $2.20 and traded as high as $2.35. Ceragon Networks shares last traded at $2.33, with a volume of 514,272 shares.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on CRNT shares. Weiss Ratings restated a “hold (c-)” rating on shares of Ceragon Networks in a report on Monday, December 29th. Zacks Research cut shares of Ceragon Networks from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 20th. Finally, Needham & Company LLC restated a “buy” rating and issued a $3.00 target price on shares of Ceragon Networks in a research note on Wednesday, November 12th. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Ceragon Networks currently has a consensus rating of “Hold” and an average target price of $4.00.

Ceragon Networks Stock Down 1.3%

The firm has a 50-day simple moving average of $2.14 and a 200-day simple moving average of $2.20. The stock has a market cap of $204.54 million, a PE ratio of 115.06 and a beta of 1.07.

Ceragon Networks (NASDAQ:CRNT) last released its quarterly earnings data on Wednesday, November 12th. The communications equipment provider reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.02). Ceragon Networks had a net margin of 0.38% and a return on equity of 6.67%. The company had revenue of $85.48 million for the quarter, compared to the consensus estimate of $83.48 million. On average, research analysts expect that Ceragon Networks Ltd. will post 0.26 earnings per share for the current year.

Hedge Funds Weigh In On Ceragon Networks

A number of hedge funds and other institutional investors have recently bought and sold shares of CRNT. BNP Paribas Financial Markets bought a new stake in shares of Ceragon Networks in the 2nd quarter worth approximately $26,000. Jones Financial Companies Lllp raised 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 worth $27,000 after purchasing an additional 8,500 shares during the period. Bank of Montreal Can purchased a new position in Ceragon Networks in the 2nd quarter worth $35,000. Wedbush Securities Inc. lifted its stake in Ceragon Networks by 58.4% in the second quarter. Wedbush Securities Inc. now owns 23,664 shares of the communications equipment provider’s stock worth $58,000 after purchasing an additional 8,727 shares during the last quarter. Finally, R Squared Ltd purchased a new stake in Ceragon Networks during the second quarter valued at about $97,000. Hedge funds and other institutional investors own 13.31% of the company’s stock.

Ceragon Networks Company Profile

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.