Ceragon Networks Ltd. (CRNT) Sees Unusually-High Trading Volume
Ceragon Networks Ltd. (NASDAQ:CRNT) shares saw unusually-strong trading volume on Friday . Approximately 501,178 shares changed hands during trading, an increase of 10% from the previous session’s volume of 455,906 shares.The stock last traded at $2.12 and had previously closed at $2.13.
A number of equities analysts have recently issued reports on CRNT shares. Zacks Investment Research raised Ceragon Networks from a “hold” rating to a “buy” rating and set a $2.25 price target on the stock in a research report on Tuesday, July 12th. Jefferies Group reissued a “hold” rating on shares of Ceragon Networks in a research report on Friday, May 13th.
The stock has a market cap of $159.97 million and a PE ratio of 22.89. The stock’s 50-day moving average is $1.73 and its 200-day moving average is $1.35.
Ceragon Networks (NASDAQ:CRNT) last posted its earnings results on Monday, May 9th. The company reported ($0.01) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.01. The company earned $59.80 million during the quarter, compared to analyst estimates of $63.55 million. The firm’s revenue for the quarter was down 36.2% on a year-over-year basis. During the same quarter last year, the business posted ($0.02) EPS. On average, analysts predict that Ceragon Networks Ltd. will post $0.10 earnings per share for the current 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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