Ceragon Networks Ltd. (CRNT) Reaches New 52-Week High at $2.60
Shares of Ceragon Networks Ltd. (NASDAQ:CRNT) hit a new 52-week high during trading on Friday . The company 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.
A number of brokerages recently commented on CRNT. TheStreet raised Ceragon Networks from a “sell” rating to a “hold” rating in a research note on Monday, August 8th. Jefferies Group raised their price objective on Ceragon Networks from $1.50 to $2.00 and gave the company a “hold” rating in a research report on Tuesday, August 9th. Zacks Investment Research lowered Ceragon Networks from a “buy” rating to a “hold” rating in a research report on Tuesday, July 26th. Finally, Needham & Company LLC raised their price objective on Ceragon Networks from $2.00 to $2.50 and gave the company a “buy” rating in a research report on Monday, July 18th.
The company’s 50-day moving average is $2.24 and its 200 day moving average is $1.60. The stock has a market capitalization of $198.07 million and a price-to-earnings ratio of 34.00.
Ceragon Networks (NASDAQ:CRNT) last released its quarterly earnings data on Monday, August 8th. The company reported $0.02 earnings per share (EPS) for the quarter. The firm earned $70 million during the quarter, compared to the consensus estimate of $67.59 million. During the same period in the previous year, the firm earned $0.04 EPS. The business’s revenue was down 26.1% compared to the same quarter last year. On average, equities research analysts forecast 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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