Ceragon Networks (NASDAQ:CRNT) Share Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Shares of Ceragon Networks Ltd. (NASDAQ:CRNT) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $2.26 and traded as high as $2.43. Ceragon Networks shares last traded at $2.43, with a volume of 372,369 shares trading hands.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on CRNT shares. Zacks Research upgraded shares of Ceragon Networks from a “strong sell” rating to a “hold” rating in a report on Monday. Weiss Ratings reiterated a “sell (d)” rating on shares of Ceragon Networks in a research note on Wednesday. Roth Capital decreased their price target on shares of Ceragon Networks from $5.00 to $4.00 and set a “buy” rating for the company in a research note on Friday, July 18th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $3.00 price target on shares of Ceragon Networks in a research note on Thursday, September 18th. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $5.30.

Ceragon Networks Stock Performance

The firm has a market cap of $216.10 million, a PE ratio of 15.19 and a beta of 1.15. The firm’s 50-day moving average price is $2.14 and its two-hundred day moving average price is $2.26.

Institutional Trading of Ceragon Networks

Several institutional investors have recently modified their holdings of CRNT. KLCM Advisors Inc. purchased a new stake in shares of Ceragon Networks during the 1st quarter worth approximately $1,871,000. First Wilshire Securities Management Inc. lifted its position in shares of Ceragon Networks by 23.6% during the 2nd quarter. First Wilshire Securities Management Inc. now owns 4,058,774 shares of the communications equipment provider’s stock worth $9,985,000 after buying an additional 775,782 shares during the last quarter. Squarepoint Ops LLC lifted its position in shares of Ceragon Networks by 642.7% during the 2nd quarter. Squarepoint Ops LLC now owns 552,939 shares of the communications equipment provider’s stock worth $1,360,000 after buying an additional 478,489 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of Ceragon Networks during the 1st quarter worth approximately $983,000. Finally, WealthTrust Axiom LLC lifted its position in shares of Ceragon Networks by 172.1% during the 2nd quarter. WealthTrust Axiom LLC now owns 464,200 shares of the communications equipment provider’s stock worth $1,142,000 after buying an additional 293,600 shares during the last quarter. Hedge funds and other institutional investors own 13.31% of the company’s stock.

Ceragon Networks Company Profile

Ceragon Networks Ltd., together with its subsidiaries, provides wireless transport solutions for cellular operators and other wireless service providers in North America, Europe, Africa, the Asia Pacific, the Middle East, India, and Latin America. The company's solutions use microwave and millimeter wave radio technology to transfer telecommunication traffic between base stations, small/distributed cells, and the service provider's network.