Ceragon Networks Ltd. (CRNT) Sets New 1-Year High at $2.57
Ceragon Networks Ltd. (NASDAQ:CRNT) shares hit a new 52-week high during trading on Friday . The stock traded as high as $2.57 and last traded at $2.54, with a volume of 561,625 shares traded. The stock had previously closed at $2.45.
Several brokerages have recently commented on CRNT. TheStreet raised Ceragon Networks from a “sell” rating to a “hold” rating in a report on Monday, August 8th. Jefferies Group boosted their target price on Ceragon Networks from $1.50 to $2.00 and gave the stock a “hold” rating in a research report on Tuesday, August 9th. Zacks Investment Research downgraded Ceragon Networks from a “buy” rating to a “hold” rating in a research report on Tuesday, July 26th. Finally, Needham & Company LLC boosted their target price on Ceragon Networks from $2.00 to $2.50 and gave the stock a “buy” rating in a research report on Monday, July 18th.
The stock has a market capitalization of $196.51 million and a P/E ratio of 33.7320. The firm has a 50 day moving average price of $2.08 and a 200-day moving average price of $1.52.
Ceragon Networks (NASDAQ:CRNT) last posted its earnings results on Monday, August 8th. The company reported $0.02 earnings per share for the quarter. The firm earned $70 million during the quarter, compared to the consensus estimate of $67.59 million. During the same period in the prior year, the company posted $0.04 EPS. The firm’s revenue was down 26.1% compared to the same quarter last year. Analysts expect that Ceragon Networks Ltd. will post $0.13 earnings per share 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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