Ceragon Networks Ltd. (CRNT) Stock Price Down 0.4%
Ceragon Networks Ltd. (NASDAQ:CRNT) fell 0.4% during trading on Monday . The company traded as low as $2.22 and last traded at $2.28, with a volume of 180,917 shares trading hands. The stock had previously closed at $2.29.
A number of research firms recently commented on CRNT. Zacks Investment Research lowered Ceragon Networks from a “buy” rating to a “hold” rating in a research report on Tuesday, July 26th. Needham & Company LLC raised their target price on Ceragon Networks from $2.00 to $2.50 and gave the company a “buy” rating in a research report on Monday, July 18th. TheStreet raised Ceragon Networks from a “sell” rating to a “hold” rating in a research report on Monday, August 8th. Finally, Jefferies Group raised their target price on Ceragon Networks from $1.50 to $2.00 and gave the company a “hold” rating in a research report on Tuesday, August 9th.
The firm has a market capitalization of $177.87 million and a PE ratio of 30.53. The stock’s 50 day moving average is $2.19 and its 200 day moving average is $1.58.
Ceragon Networks (NASDAQ:CRNT) last issued its quarterly earnings data on Monday, August 8th. The company reported $0.02 earnings per share for the quarter. The business earned $70 million during the quarter, compared to the consensus estimate of $67.59 million. During the same quarter in the prior year, the business posted $0.04 earnings per share. Ceragon Networks’s quarterly revenue was down 26.1% compared to the same quarter last year. On average, equities research analysts predict that Ceragon Networks Ltd. will post $0.13 earnings per share 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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