Ceragon Networks Ltd. (CRNT) Shares Down 2.4%
Ceragon Networks Ltd. (NASDAQ:CRNT) shares were down 2.4% during trading on Friday . The stock traded as low as $2.06 and last traded at $2.07, with a volume of 160,063 shares. The stock had previously closed at $2.12.
Several research analysts have commented on CRNT shares. Needham & Company LLC boosted their target price on Ceragon Networks from $2.00 to $2.50 and gave the stock a “buy” rating in a research note on Monday, July 18th. Zacks Investment Research downgraded Ceragon Networks from a “buy” rating to a “hold” rating in a research note on Tuesday, July 26th. TheStreet raised Ceragon Networks from a “sell” rating to a “hold” rating in a research note on Monday. Finally, Jefferies Group upped their price objective on Ceragon Networks from $1.50 to $2.00 and gave the company a “hold” rating in a research note on Tuesday.
The company’s 50 day moving average is $1.97 and its 200 day moving average is $1.48. The company has a market cap of $164.67 million and a price-to-earnings ratio of 28.27.
Ceragon Networks (NASDAQ:CRNT) last issued its earnings results on Monday, August 8th. The company reported $0.02 EPS for the quarter. During the same quarter in the prior year, the business earned $0.04 EPS. The company earned $70 million during the quarter, compared to the consensus estimate of $67.59 million. The firm’s revenue for the quarter was down 26.1% compared to the same quarter last year. On average, equities analysts predict 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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