Ceragon Networks Ltd. (CRNT) Sets New 52-Week High at $2.04
Ceragon Networks Ltd. (NASDAQ:CRNT) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $2.04 and last traded at $2.04, with a volume of 512,289 shares. The stock had previously closed at $1.92.
Several equities research analysts have recently issued reports on CRNT shares. Zacks Investment Research upgraded shares of Ceragon Networks from a “hold” rating to a “buy” rating and set a $2.25 target price for the company in a report on Tuesday. Jefferies Group restated a “hold” rating on shares of Ceragon Networks in a report on Friday, May 13th.
The stock has a 50 day moving average of $1.71 and a 200-day moving average of $1.34. The stock has a market capitalization of $163.07 million and a PE ratio of 23.3322.
Ceragon Networks (NASDAQ:CRNT) last posted its quarterly earnings data on Monday, May 9th. The company reported ($0.01) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.01. During the same quarter in the prior year, the company posted ($0.02) earnings per share. The company had revenue of $59.80 million for the quarter, compared to analyst estimates of $63.55 million. The business’s revenue was down 36.2% on a year-over-year basis. Equities research analysts expect that Ceragon Networks Ltd. will post $0.10 earnings per share for the current fiscal year.
Ceragon Networks Ltd. is a provider of wireless backhaul solutions. The Company’s solutions enable cellular operators and other wireless service providers to deliver voice and data services, enabling smart-phone applications, such as Internet browsing, social networking applications, image sharing, music and video applications.
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