Ceragon Networks Ltd. (CRNT) Shares Down 5.9%
Shares of Ceragon Networks Ltd. (NASDAQ:CRNT) traded down 5.9% on Monday . The company traded as low as $2.36 and last traded at $2.38, with a volume of 439,862 shares. The stock had previously closed at $2.53.
A number of analysts have weighed in on the company. Zacks Investment Research lowered Ceragon Networks from a “buy” rating to a “hold” rating in a report on Tuesday, July 26th. Needham & Company LLC upped their target price on Ceragon Networks from $2.00 to $2.50 and gave the stock a “buy” rating in a report on Monday, July 18th. TheStreet upgraded Ceragon Networks from a “sell” rating to a “hold” rating in a report on Monday, August 8th. Finally, Jefferies Group upped their target price on Ceragon Networks from $1.50 to $2.00 and gave the stock a “hold” rating in a report on Tuesday, August 9th.
The stock has a 50-day moving average price of $2.11 and a 200 day moving average price of $1.53. The firm has a market cap of $184.09 million and a price-to-earnings ratio of 31.60.
Ceragon Networks (NASDAQ:CRNT) last announced its quarterly earnings results on Monday, August 8th. The company reported $0.02 earnings per share (EPS) for the quarter. During the same quarter in the prior year, the business earned $0.04 EPS. The firm had revenue of $70 million for the quarter, compared to analyst estimates of $67.59 million. The firm’s quarterly revenue was down 26.1% on a year-over-year basis. On average, analysts anticipate 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.