Ceragon Networks Ltd. (CRNT) Reaches New 1-Year High at $2.04
Ceragon Networks Ltd. (NASDAQ:CRNT) shares hit 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.
CRNT has been the subject of a number of recent research reports. Zacks Investment Research upgraded Ceragon Networks from a “hold” rating to a “buy” rating and set a $2.25 price objective 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 firm’s 50 day moving average price is $1.73 and its 200-day moving average price is $1.35. The company has a market capitalization of $159.97 million and a price-to-earnings ratio of 22.89.
Ceragon Networks (NASDAQ:CRNT) last released its quarterly earnings data on Monday, May 9th. The company reported ($0.01) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $0.01. During the same period last year, the business posted ($0.02) earnings per share. The business earned $59.80 million during the quarter, compared to the consensus estimate of $63.55 million. The firm’s quarterly revenue was down 36.2% on a year-over-year basis. Analysts anticipate that Ceragon Networks Ltd. will post $0.10 EPS 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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