Ceragon Networks Ltd. (CRNT) Sees Large Volume Increase
Ceragon Networks Ltd. (NASDAQ:CRNT) shares saw unusually-high trading volume on Monday . Approximately 1,580,505 shares traded hands during mid-day trading, an increase of 66% from the previous session’s volume of 951,595 shares.The stock last traded at $2.37 and had previously closed at $2.12.
Several equities research analysts recently commented on CRNT shares. Needham & Company LLC raised their target price on Ceragon Networks from $2.00 to $2.50 and gave the stock a “buy” rating in a research note 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 for the company in a research note on Tuesday, July 12th. TheStreet raised Ceragon Networks from a “sell” rating to a “hold” rating in a research note on Monday, August 8th. Finally, Jefferies Group raised their target price on Ceragon Networks from $1.50 to $2.00 and gave the stock a “hold” rating in a research note on Tuesday, August 9th.
The firm has a market capitalization of $184.04 million and a price-to-earnings ratio of 26.33. The company has a 50 day moving average of $2.01 and a 200-day moving average of $1.50.
Ceragon Networks (NASDAQ:CRNT) last issued its quarterly earnings results on Monday, August 8th. The company reported $0.02 earnings per share (EPS) for the quarter. During the same period last year, the firm earned $0.04 EPS. The firm had revenue of $70 million for the quarter, compared to the consensus estimate of $67.59 million. The company’s revenue for the quarter was down 26.1% on a year-over-year basis. Equities analysts forecast that Ceragon Networks Ltd. will post $0.13 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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