Ceragon Networks Ltd. (CRNT) Shares Down 5.9%
Ceragon Networks Ltd. (NASDAQ:CRNT) traded down 5.9% during mid-day trading on Monday . The company traded as low as $2.36 and last traded at $2.38, with a volume of 439,862 shares changing hands. The stock had previously closed at $2.53.
A number of equities research analysts have recently issued reports on the company. TheStreet upgraded Ceragon Networks from a “sell” rating to a “hold” rating in a research report on Monday, August 8th. Jefferies Group upped their price objective on Ceragon Networks from $1.50 to $2.00 and gave the company a “hold” rating in a report on Tuesday, August 9th. Zacks Investment Research cut Ceragon Networks from a “strong-buy” rating to a “hold” rating in a report on Monday, July 11th. Finally, Needham & Company LLC upped their price objective on Ceragon Networks from $2.00 to $2.50 and gave the company a “buy” rating in a report on Monday, July 18th.
The company’s 50-day moving average price is $2.13 and its 200-day moving average price is $1.55. The firm has a market cap of $176.32 million and a PE ratio of 30.27.
Ceragon Networks (NASDAQ:CRNT) last announced its quarterly earnings data on Monday, August 8th. The company reported $0.02 EPS for the quarter. The firm earned $70 million during the quarter, compared to analyst estimates of $67.59 million. Ceragon Networks’s revenue for the quarter was down 26.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.04 EPS. On average, equities analysts anticipate 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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