Ceragon Networks (NASDAQ:CRNT) Stock Crosses Above 200-Day Moving Average of $2.76

Ceragon Networks Ltd. (NASDAQ:CRNT) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $2.76 and traded as high as $2.79. Ceragon Networks shares last traded at $2.74, with a volume of 245,534 shares trading hands.

Analyst Ratings Changes

Separately, Needham & Company LLC restated a “buy” rating and set a $5.25 price objective on shares of Ceragon Networks in a research note on Thursday, August 8th.

Ceragon Networks Trading Up 0.4 %

The business has a 50-day moving average price of $2.79 and a two-hundred day moving average price of $2.76. The firm has a market capitalization of $234.05 million, a price-to-earnings ratio of 54.80 and a beta of 1.35.

Ceragon Networks (NASDAQ:CRNT) last announced its quarterly earnings results on Wednesday, August 7th. The communications equipment provider reported $0.10 earnings per share for the quarter. The business had revenue of $96.09 million for the quarter. Ceragon Networks had a return on equity of 13.94% and a net margin of 2.87%. On average, equities research analysts predict that Ceragon Networks Ltd. will post 0.24 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ceragon Networks

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. WINTON GROUP Ltd bought a new position in Ceragon Networks in the 2nd quarter worth approximately $26,000. Eagle Wealth Strategies LLC bought a new position in Ceragon Networks in the 1st quarter worth approximately $31,000. Cubist Systematic Strategies LLC bought a new position in Ceragon Networks in the 2nd quarter worth approximately $56,000. Sei Investments Co. grew its holdings in Ceragon Networks by 45.7% in the 2nd quarter. Sei Investments Co. now owns 27,423 shares of the communications equipment provider’s stock worth $69,000 after buying an additional 8,607 shares in the last quarter. Finally, Lazard Asset Management LLC grew its holdings in Ceragon Networks by 9,906.9% in the 1st quarter. Lazard Asset Management LLC now owns 94,765 shares of the communications equipment provider’s stock worth $303,000 after buying an additional 93,818 shares in the last quarter. 13.31% of the stock is owned by institutional investors.

Ceragon Networks Company Profile

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.