Ceragon Networks Ltd. (NASDAQ:CRNT)’s share price reached a new 52-week high on Wednesday . The stock traded as high as $2.48 and last traded at $2.44, with a volume of 1,131,033 shares traded. The stock had previously closed at $2.35.

CRNT has been the topic of several recent analyst reports. Needham & Company LLC increased their target price on Ceragon Networks from $2.00 to $2.50 and gave the stock a “buy” rating in a research report on Monday. Zacks Investment Research upgraded Ceragon Networks from a “hold” rating to a “strong-buy” rating and set a $1.75 target price on the stock in a research report on Thursday, May 12th. Finally, Jefferies Group reiterated a “hold” rating on shares of Ceragon Networks in a research report on Friday, May 13th.

The stock has a market capitalization of $173.17 million and a P/E ratio of 24.78. The company has a 50 day moving average of $1.76 and a 200 day moving average of $1.36.

Ceragon Networks (NASDAQ:CRNT) last issued its earnings results on Monday, May 9th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.01. The firm earned $59.80 million during the quarter, compared to analyst estimates of $63.55 million. During the same quarter last year, the business posted ($0.02) earnings per share. The company’s revenue for the quarter was down 36.2% on a year-over-year basis. Equities research 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.

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