Ceragon Networks (NASDAQ:CRNT) Stock Price Passes Above 200-Day Moving Average – Should You Sell?

Ceragon Networks Ltd. (NASDAQ:CRNT)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $2.31 and traded as high as $3.26. Ceragon Networks shares last traded at $3.20, with a volume of 1,156,580 shares.

Wall Street Analyst Weigh In

Several analysts have recently commented on CRNT shares. Needham & Company LLC reissued a “buy” rating and issued a $3.00 price objective on shares of Ceragon Networks in a research note on Wednesday, May 20th. Lake Street Capital initiated coverage on Ceragon Networks in a report on Tuesday, March 31st. They issued a “buy” rating and a $3.50 target price for the company. Craig Hallum reaffirmed a “buy” rating and issued a $4.00 target price on shares of Ceragon Networks in a report on Wednesday, May 20th. Wall Street Zen raised Ceragon Networks from a “hold” rating to a “strong-buy” rating in a report on Saturday, May 23rd. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $4.50 target price on shares of Ceragon Networks in a report on Tuesday, May 19th. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $3.75.

Ceragon Networks Price Performance

The firm has a fifty day simple moving average of $2.54 and a two-hundred day simple moving average of $2.31. The firm has a market capitalization of $259.95 million, a P/E ratio of -143.00 and a beta of 1.35.

Ceragon Networks (NASDAQ:CRNT) last announced its quarterly earnings data on Wednesday, April 15th. The communications equipment provider reported $0.01 earnings per share for the quarter. Ceragon Networks had a positive return on equity of 2.27% and a negative net margin of 0.73%.The business had revenue of $85.00 million during the quarter. On average, research analysts anticipate that Ceragon Networks Ltd. will post 0.12 EPS for the current year.

Hedge Funds Weigh In On Ceragon Networks

Several institutional investors and hedge funds have recently bought and sold shares of CRNT. First Wilshire Securities Management Inc. boosted its holdings in shares of Ceragon Networks by 18.0% in the first quarter. First Wilshire Securities Management Inc. now owns 4,854,150 shares of the communications equipment provider’s stock worth $10,485,000 after acquiring an additional 740,358 shares during the period. CSM Advisors LLC boosted its holdings in shares of Ceragon Networks by 10.5% in the fourth quarter. CSM Advisors LLC now owns 2,284,048 shares of the communications equipment provider’s stock worth $4,795,000 after acquiring an additional 216,273 shares during the period. Private Advisor Group LLC boosted its holdings in shares of Ceragon Networks by 47.4% in the fourth quarter. Private Advisor Group LLC now owns 1,420,888 shares of the communications equipment provider’s stock worth $2,984,000 after acquiring an additional 456,710 shares during the period. Essex Investment Management Co. LLC boosted its holdings in shares of Ceragon Networks by 36.9% in the third quarter. Essex Investment Management Co. LLC now owns 1,418,197 shares of the communications equipment provider’s stock worth $3,304,000 after acquiring an additional 382,058 shares during the period. Finally, WealthTrust Axiom LLC boosted its holdings in shares of Ceragon Networks by 13.2% in the fourth quarter. WealthTrust Axiom LLC now owns 900,299 shares of the communications equipment provider’s stock worth $1,891,000 after acquiring an additional 104,799 shares during the period. 13.31% of the stock is owned by institutional investors.

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.