Ceragon Networks (NASDAQ:CRNT) Shares Pass Above Two Hundred Day Moving Average of $2.35

Shares of Ceragon Networks Ltd. (NASDAQ:CRNT) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred 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 changing hands.

Analysts Set New Price Targets

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

Ceragon Networks Stock Performance

The stock has a market cap of $238.32 million, a PE ratio of 39.86 and a beta of 1.48. The company’s 50-day moving average price is $2.97 and its 200 day moving average price is $2.35.

Ceragon Networks (NASDAQ:CRNT) last released its quarterly earnings results on Tuesday, February 20th. The communications equipment provider reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.01. Ceragon Networks had a return on equity of 9.95% and a net margin of 1.79%. The company had revenue of $90.36 million for the quarter. During the same quarter last year, the company earned ($0.01) earnings per share. As a group, equities research analysts predict that Ceragon Networks Ltd. will post 0.18 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Eagle Wealth Strategies LLC acquired a new position in Ceragon Networks during the first quarter worth $31,000. Virtu Financial LLC acquired a new position in Ceragon Networks during the fourth quarter worth $64,000. Northern Trust Corp purchased a new stake in shares of Ceragon Networks during the fourth quarter worth $112,000. First Wilshire Securities Management Inc. increased its position in shares of Ceragon Networks by 1.0% during the fourth quarter. First Wilshire Securities Management Inc. now owns 3,043,001 shares of the communications equipment provider’s stock worth $6,573,000 after acquiring an additional 31,439 shares during the period. Finally, Worth Venture Partners LLC increased its position in shares of Ceragon Networks by 17.8% during the fourth quarter. Worth Venture Partners LLC now owns 87,271 shares of the communications equipment provider’s stock worth $189,000 after acquiring an additional 13,174 shares during the period. 13.31% of the stock is currently 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.