Ceragon Networks Ltd. (CRNT) Shares Gap Up to $2.03
Ceragon Networks Ltd. (NASDAQ:CRNT) shares gapped up prior to trading on Thursday . The stock had previously closed at $2.02, but opened at $2.03. Ceragon Networks shares last traded at $2.11, with a volume of 653,417 shares changing hands.
A number of research analysts have recently weighed in on the company. Zacks Investment Research cut Ceragon Networks from a “buy” rating to a “hold” rating in a research report on Tuesday, July 26th. Jefferies Group restated a “hold” rating on shares of Ceragon Networks in a research report on Friday, May 13th. Needham & Company LLC raised their price target on Ceragon Networks from $2.00 to $2.50 and gave the company a “buy” rating in a research report on Monday, July 18th. Finally, TheStreet upgraded Ceragon Networks from a “sell” rating to a “hold” rating in a research report on Monday.
The company’s 50 day moving average price is $1.97 and its 200-day moving average price is $1.48. The company has a market cap of $164.67 million and a price-to-earnings ratio of 28.27.
Ceragon Networks (NASDAQ:CRNT) last released its quarterly earnings data on Monday, August 8th. The company reported $0.02 earnings per share (EPS) for the quarter. During the same quarter in the prior year, the firm earned $0.04 EPS. The company had revenue of $70 million for the quarter, compared to analyst estimates of $67.59 million. The company’s revenue for the quarter was down 26.1% compared to the same quarter last year. On average, equities research analysts expect that Ceragon Networks Ltd. will post $0.13 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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