Ceragon Networks Ltd. (CRNT) Stock Price Up 3.7%
Ceragon Networks Ltd. (NASDAQ:CRNT) shares rose 3.7% during mid-day trading on Tuesday . The stock traded as high as $2.25 and last traded at $2.22, with a volume of 378,388 shares changing hands. The stock had previously closed at $2.14.
CRNT has been the topic of several analyst reports. Needham & Company LLC lifted their target price on Ceragon Networks from $2.00 to $2.50 and gave the company a “buy” rating in a research report on Monday, July 18th. Zacks Investment Research raised Ceragon Networks from a “hold” rating to a “buy” rating and set a $2.25 target price on the stock in a research report on Tuesday, July 12th. Finally, Jefferies Group reaffirmed a “hold” rating on shares of Ceragon Networks in a research report on Friday, May 13th.
The firm has a market cap of $173.95 million and a price-to-earnings ratio of 24.89. The company has a 50 day moving average price of $1.81 and a 200 day moving average price of $1.39.
Ceragon Networks (NASDAQ:CRNT) last announced its quarterly earnings data on Monday, May 9th. The company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.01. During the same period last year, the firm earned ($0.02) earnings per share. The company had revenue of $59.80 million for the quarter, compared to analysts’ expectations of $63.55 million. Ceragon Networks’s quarterly revenue was down 36.2% compared to the same quarter last 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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