Shares of Ceragon Networks Ltd. (NASDAQ:CRNT) dropped 1.8% during mid-day trading on Thursday . The company traded as low as $2.11 and last traded at $2.15, with a volume of 473,214 shares traded. The stock had previously closed at $2.19.

CRNT has been the topic of a number of analyst reports. Needham & Company LLC raised their target price on shares of Ceragon Networks from $2.00 to $2.50 and gave the stock a “buy” rating in a research report on Monday, July 18th. Zacks Investment Research raised shares of Ceragon Networks from a “hold” rating to a “buy” rating and set a $2.25 price target on the stock in a research note on Tuesday, July 12th. Finally, Jefferies Group reaffirmed a “hold” rating on shares of Ceragon Networks in a research note on Friday, May 13th.

The firm has a 50-day moving average price of $1.80 and a 200-day moving average price of $1.38. The company has a market cap of $170.84 million and a P/E ratio of 24.44.

Ceragon Networks (NASDAQ:CRNT) last released its quarterly earnings results on Monday, May 9th. The company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.01. The company had revenue of $59.80 million for the quarter, compared to the consensus estimate of $63.55 million. The firm’s quarterly revenue was down 36.2% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.02) earnings per share. On average, analysts expect that Ceragon Networks Ltd. will post $0.10 EPS 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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