Ceragon Networks Ltd. (CRNT) Shares Gap Up to $2.03
Ceragon Networks Ltd. (NASDAQ:CRNT)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $2.02, but opened at $2.03. Ceragon Networks shares last traded at $2.11, with a volume of 653,417 shares changing hands.
A number of equities analysts recently commented on the company. Jefferies Group raised their target price on Ceragon Networks from $1.50 to $2.00 and gave the company a “hold” rating in a report on Tuesday. TheStreet raised Ceragon Networks from a “sell” rating to a “hold” rating in a research report on Monday, August 8th. Zacks Investment Research lowered Ceragon Networks from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 11th. Finally, Needham & Company LLC increased their price target 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 has a market cap of $164.63 million and a P/E ratio of 23.56. The stock’s 50 day moving average price is $1.99 and its 200-day moving average price is $1.49.
Ceragon Networks (NASDAQ:CRNT) last released its quarterly earnings results on Monday, August 8th. The company reported $0.02 earnings per share for the quarter. The company earned $70 million during the quarter, compared to analyst estimates of $67.59 million. During the same period last year, the firm earned $0.04 earnings per share. The business’s revenue was down 26.1% compared to the same quarter last year. On average, equities research analysts expect that Ceragon Networks Ltd. will post $0.13 earnings per share 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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