Ceragon Networks Ltd. (CRNT) Trading Down 1.8%
Ceragon Networks Ltd. (NASDAQ:CRNT) shares fell 1.8% on Thursday . The company traded as low as $2.11 and last traded at $2.15, with a volume of 473,214 shares traded. The stock had previously closed at $2.19.
A number of research firms have weighed in on CRNT. Zacks Investment Research lowered shares of Ceragon Networks from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 11th. Jefferies Group reissued a “hold” rating on shares of Ceragon Networks in a research report on Friday, May 13th. Finally, Needham & Company LLC boosted their target price on shares of Ceragon Networks from $2.00 to $2.50 and gave the stock a “buy” rating in a research report on Monday.
The stock has a 50-day moving average price of $1.79 and a 200 day moving average price of $1.37. The company has a market cap of $161.52 million and a P/E ratio of 23.11.
Ceragon Networks (NASDAQ:CRNT) last posted its earnings results on Monday, May 9th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.01. The company had revenue of $59.80 million for the quarter, compared to analyst estimates of $63.55 million. The business’s quarterly revenue was down 36.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.02) EPS. 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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