Ceragon Networks Ltd. (CRNT) Sees Unusually-High Trading Volume
Shares of Ceragon Networks Ltd. (NASDAQ:CRNT) saw strong trading volume on Friday . 501,178 shares changed hands during trading, an increase of 10% from the previous session’s volume of 455,906 shares.The stock last traded at $2.12 and had previously closed at $2.13.
A number of equities research analysts have issued reports on the company. Zacks Investment Research raised Ceragon Networks from a “hold” rating to a “buy” rating and set a $2.25 target price for the company in a research report on Tuesday. Jefferies Group reaffirmed a “hold” rating on shares of Ceragon Networks in a research report on Friday, May 13th.
The firm has a market capitalization of $159.97 million and a P/E ratio of 22.89. The firm’s 50 day moving average is $1.72 and its 200-day moving average is $1.34.
Ceragon Networks (NASDAQ:CRNT) last released its quarterly earnings results on Monday, May 9th. The company reported ($0.01) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.01. During the same period in the prior year, the business earned ($0.02) EPS. The business had revenue of $59.80 million for the quarter, compared to analyst estimates of $63.55 million. The company’s revenue for the quarter was down 36.2% compared to the same quarter last year. Equities analysts anticipate that Ceragon Networks Ltd. will post $0.10 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.