Ceragon Networks Ltd. (CRNT) Shares Up 6.3%
Shares of Ceragon Networks Ltd. (NASDAQ:CRNT) shot up 6.3% during mid-day trading on Monday . The company traded as high as $2.60 and last traded at $2.55, with a volume of 979,500 shares trading hands. The stock had previously closed at $2.40.
A number of brokerages have issued reports on CRNT. TheStreet upgraded shares of Ceragon Networks from a “sell” rating to a “hold” rating in a report on Monday, August 8th. Jefferies Group lifted their price target on shares of Ceragon Networks from $1.50 to $2.00 and gave the company a “hold” rating in a report on Tuesday, August 9th. Zacks Investment Research downgraded shares of Ceragon Networks from a “strong-buy” rating to a “hold” rating in a report on Monday, July 11th. Finally, Needham & Company LLC lifted their price target on shares of Ceragon Networks from $2.00 to $2.50 and gave the company a “buy” rating in a report on Monday, July 18th.
The firm has a 50 day moving average price of $2.24 and a 200-day moving average price of $1.60. The firm has a market cap of $198.07 million and a PE ratio of 34.00.
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 period last year, the company posted $0.04 earnings per share. The firm had revenue of $70 million for the quarter, compared to analysts’ expectations of $67.59 million. The business’s quarterly revenue was down 26.1% on a year-over-year basis. Analysts anticipate that Ceragon Networks Ltd. will post $0.13 earnings per share 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.
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