Ceragon Networks Ltd. (CRNT) Shares Up 4.6%
Shares of Ceragon Networks Ltd. (NASDAQ:CRNT) shot up 4.6% on Friday . The company traded as high as $2.31 and last traded at $2.29, with a volume of 189,930 shares traded. The stock had previously closed at $2.19.
A number of research firms have recently weighed in on CRNT. Zacks Investment Research downgraded shares of Ceragon Networks from a “buy” rating to a “hold” rating in a research report on Tuesday, July 26th. Needham & Company LLC raised their price target on shares of Ceragon Networks from $2.00 to $2.50 and gave the stock a “buy” rating in a research report on Monday, July 18th. TheStreet raised shares of Ceragon Networks from a “sell” rating to a “hold” rating in a research report on Monday, August 8th. Finally, Jefferies Group raised their price target on shares of Ceragon Networks from $1.50 to $2.00 and gave the stock a “hold” rating in a research report on Tuesday, August 9th.
The company has a 50-day moving average price of $2.16 and a 200-day moving average price of $1.56. The firm has a market capitalization of $178.26 million and a PE ratio of 30.600.
Ceragon Networks (NASDAQ:CRNT) last announced its quarterly earnings results on Monday, August 8th. The company reported $0.02 EPS for the quarter. The firm earned $70 million during the quarter, compared to the consensus estimate of $67.59 million. The company’s quarterly revenue was down 26.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.04 EPS. On average, analysts forecast that Ceragon Networks Ltd. will post $0.13 EPS for the current 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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