Ceragon Networks Ltd. (CRNT) Hits New 1-Year High at $2.60
Ceragon Networks Ltd. (NASDAQ:CRNT) shares hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $2.60 and last traded at $2.54, with a volume of 617,980 shares. The stock had previously closed at $2.40.
Several brokerages have recently issued reports on CRNT. Zacks Investment Research cut shares of Ceragon Networks from a “buy” rating to a “hold” rating in a report on Tuesday, July 26th. Jefferies Group reiterated a “hold” rating on shares of Ceragon Networks in a report on Friday, May 13th. Needham & Company LLC lifted their price target on shares of Ceragon Networks from $2.00 to $2.50 and gave the company a “buy” rating in a report on Monday, July 18th. Finally, TheStreet upgraded shares of Ceragon Networks from a “sell” rating to a “hold” rating in a report on Monday, August 8th.
The company has a market cap of $197.29 million and a price-to-earnings ratio of 33.87. The firm’s 50 day moving average is $2.23 and its 200-day moving average is $1.60.
Ceragon Networks (NASDAQ:CRNT) last issued its quarterly earnings data on Monday, August 8th. The company reported $0.02 earnings per share (EPS) for the quarter. The firm had revenue of $70 million for the quarter, compared to analysts’ expectations of $67.59 million. During the same period last year, the company earned $0.04 earnings per share. The firm’s revenue was down 26.1% on a year-over-year basis. On average, equities analysts expect 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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