Ceragon Networks Ltd. (CRNT) Shares Down 2.4%
Ceragon Networks Ltd. (NASDAQ:CRNT)’s share price dropped 2.4% on Friday . The stock traded as low as $2.06 and last traded at $2.07, with a volume of 160,063 shares changing hands. The stock had previously closed at $2.12.
CRNT has been the topic of several analyst reports. Needham & Company LLC increased their target price on Ceragon Networks from $2.00 to $2.50 and gave the company a “buy” rating in a research note on Monday, July 18th. Zacks Investment Research raised Ceragon Networks from a “hold” rating to a “buy” rating and set a $2.25 target price on the stock in a research note on Tuesday, July 12th. Jefferies Group increased their target price on Ceragon Networks from $1.50 to $2.00 and gave the company a “hold” rating in a research note on Tuesday, August 9th. Finally, TheStreet raised Ceragon Networks from a “sell” rating to a “hold” rating in a research note on Monday, August 8th.
The firm has a market cap of $164.63 million and a P/E ratio of 23.56. The company has a 50 day moving average price of $1.99 and a 200-day moving average price of $1.49.
Ceragon Networks (NASDAQ:CRNT) last posted its quarterly earnings results on Monday, August 8th. The company reported $0.02 EPS for the quarter. During the same period last year, the firm posted $0.04 EPS. The business had revenue of $70 million for the quarter, compared to analyst estimates of $67.59 million. Ceragon Networks’s quarterly revenue was down 26.1% on a year-over-year basis. On average, equities research analysts forecast that Ceragon Networks Ltd. will post $0.13 EPS for the current 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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.