Ceragon Networks (NASDAQ:CRNT) Stock Passes Above 200-Day Moving Average – Time to Sell?

Ceragon Networks Ltd. (NASDAQ:CRNT) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $2.25 and traded as high as $2.28. Ceragon Networks shares last traded at $2.24, with a volume of 690,333 shares traded.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Zacks Research lowered Ceragon Networks from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 20th. Weiss Ratings reissued a “hold (c-)” rating on shares of Ceragon Networks in a research report on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $3.50.

Ceragon Networks Trading Up 0.4%

The business’s 50 day moving average is $2.29 and its 200 day moving average is $2.25. The stock has a market capitalization of $205.43 million, a PE ratio of -115.50 and a beta of 1.20.

Ceragon Networks (NASDAQ:CRNT) last posted its quarterly earnings data on Tuesday, February 17th. The communications equipment provider reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). The firm had revenue of $82.33 million during the quarter, compared to analysts’ expectations of $84.23 million. Ceragon Networks had a positive return on equity of 3.52% and a negative net margin of 0.62%. As a group, analysts anticipate that Ceragon Networks Ltd. will post 0.26 EPS for the current year.

Institutional Investors Weigh In On Ceragon Networks

A number of institutional investors and hedge funds have recently modified their holdings of CRNT. CSM Advisors LLC purchased a new stake in Ceragon Networks in the third quarter worth $4,819,000. WealthTrust Axiom LLC boosted its stake in shares of Ceragon Networks by 172.1% during the second quarter. WealthTrust Axiom LLC now owns 464,200 shares of the communications equipment provider’s stock valued at $1,142,000 after purchasing an additional 293,600 shares during the period. Squarepoint Ops LLC boosted its stake in shares of Ceragon Networks by 642.7% during the second quarter. Squarepoint Ops LLC now owns 552,939 shares of the communications equipment provider’s stock valued at $1,360,000 after purchasing an additional 478,489 shares during the period. First Wilshire Securities Management Inc. grew its holdings in shares of Ceragon Networks by 23.6% in the second quarter. First Wilshire Securities Management Inc. now owns 4,058,774 shares of the communications equipment provider’s stock worth $9,985,000 after purchasing an additional 775,782 shares during the last quarter. Finally, Essex Investment Management Co. LLC grew its holdings in shares of Ceragon Networks by 36.9% in the third quarter. Essex Investment Management Co. LLC now owns 1,418,197 shares of the communications equipment provider’s stock worth $3,304,000 after purchasing an additional 382,058 shares during the last quarter. 13.31% of the stock is owned by institutional investors.

About Ceragon Networks

Ceragon Networks Ltd. is a global provider of wireless backhaul solutions, specializing in high-capacity, low-latency connectivity for mobile operators and private networks. The company designs and manufactures a portfolio of microwave and millimeter-wave equipment that serves as a fiber alternative for carrying voice, data and video traffic between cell sites and core networks. Ceragon’s solutions are engineered to support the rigorous performance requirements of modern 4G and 5G deployments, with an emphasis on scalability, reliability and efficient spectrum utilization.

The company’s product lineup includes point-to-point and multi-point radio platforms, as well as software-driven network management tools that enable operators to plan, deploy and monitor end-to-end transport networks.