Ceragon Networks Ltd. (CRNT) Hits New 52-Week High at $2.57
Ceragon Networks Ltd. (NASDAQ:CRNT) reached a new 52-week high during mid-day 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.
CRNT has been the subject of several recent analyst reports. 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. TheStreet raised Ceragon Networks from a “sell” rating to a “hold” rating in a research note on Monday, August 8th. Zacks Investment Research raised Ceragon Networks from a “hold” rating to a “buy” rating and set a $2.25 price objective for the company in a research note on Tuesday, July 12th. Finally, Needham & Company LLC lifted their price objective on Ceragon Networks from $2.00 to $2.50 and gave the company a “buy” rating in a research note on Monday, July 18th.
The stock has a market capitalization of $196.52 million and a price-to-earnings ratio of 33.73. The firm’s 50 day moving average price is $2.11 and its 200 day moving average price is $1.53.
Ceragon Networks (NASDAQ:CRNT) last announced its quarterly earnings results on Monday, August 8th. The company reported $0.02 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 analysts’ expectations of $67.59 million. Ceragon Networks’s revenue was down 26.1% compared to the same quarter last year. 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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