Ceragon Networks Ltd. (CRNT) Trading Up 4.6%
Shares of Ceragon Networks Ltd. (NASDAQ:CRNT) were up 4.6% during trading on Friday . The stock traded as high as $2.31 and last traded at $2.29, with a volume of 189,930 shares trading hands. The stock had previously closed at $2.19.
Several analysts recently commented on CRNT shares. Jefferies Group raised their price objective on shares of Ceragon Networks from $1.50 to $2.00 and gave the company a “hold” rating in a research note on Tuesday, August 9th. TheStreet upgraded shares of Ceragon Networks from a “sell” rating to a “hold” rating in a research note on Monday, August 8th. Zacks Investment Research upgraded shares of Ceragon Networks from a “hold” rating to a “buy” rating and set a $2.25 price objective for the company in a research note on Tuesday, July 12th. Finally, Needham & Company LLC raised their price objective on shares of Ceragon Networks from $2.00 to $2.50 and gave the company a “buy” rating in a research note on Monday, July 18th.
The stock has a 50-day moving average price of $2.18 and a 200 day moving average price of $1.57. The firm has a market capitalization of $177.87 million and a P/E ratio of 30.53.
Ceragon Networks (NASDAQ:CRNT) last issued its earnings results on Monday, August 8th. The company reported $0.02 earnings per share for the quarter. The business had revenue of $70 million for the quarter, compared to analyst estimates of $67.59 million. During the same period last year, the company posted $0.04 earnings per share. The firm’s revenue for the quarter was down 26.1% on a year-over-year basis. On average, equities analysts expect 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.