Ceragon Networks Ltd. (CRNT) Trading 2.1% Higher
Ceragon Networks Ltd. (NASDAQ:CRNT) shares traded up 2.1% during mid-day trading on Tuesday . The company traded as high as $2.42 and last traded at $2.42, with a volume of 807,078 shares trading hands. The stock had previously closed at $2.37.
Several research analysts have issued reports on CRNT shares. Jefferies Group reaffirmed a “hold” rating on shares of Ceragon Networks in a report on Friday, May 13th. Zacks Investment Research raised shares of Ceragon Networks from a “hold” rating to a “buy” rating and set a $2.25 target price for the company in a report on Tuesday, July 12th. TheStreet raised shares of Ceragon Networks from a “sell” rating to a “hold” rating in a report on Monday, August 8th. Finally, Needham & Company LLC lifted their target price on shares of Ceragon Networks from $2.00 to $2.50 and gave the stock a “buy” rating in a report on Monday, July 18th.
The stock has a market capitalization of $187.93 million and a price-to-earnings ratio of 26.89. The stock has a 50-day moving average of $2.03 and a 200 day moving average of $1.51.
Ceragon Networks (NASDAQ:CRNT) last posted its quarterly earnings results on Monday, August 8th. The company reported $0.02 EPS for the quarter. The company earned $70 million during the quarter, compared to the consensus estimate of $67.59 million. During the same quarter in the previous year, the company posted $0.04 earnings per share. The company’s revenue for the quarter was down 26.1% on a year-over-year basis. Equities analysts predict 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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