Ceragon Networks (NASDAQ:CRNT) Shares Pass Above 200-Day Moving Average - What's Next?

Ceragon Networks Ltd. (NASDAQ:CRNT - Get Free Report) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $2.88 and traded as high as $4.65. Ceragon Networks shares last traded at $4.31, with a volume of 1,799,289 shares traded.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Roth Mkm initiated coverage on shares of Ceragon Networks in a research note on Monday, October 28th. They set a "buy" rating and a $4.50 price objective on the stock. Needham & Company LLC reaffirmed a "buy" rating and set a $6.00 target price (up previously from $4.50) on shares of Ceragon Networks in a research report on Wednesday, December 4th. Roth Capital upgraded Ceragon Networks to a "strong-buy" rating in a report on Monday, October 28th. Finally, Litchfield Hills Research assumed coverage on Ceragon Networks in a research note on Tuesday, December 3rd. They set a "buy" rating and a $10.00 price objective for the company. Three research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, Ceragon Networks currently has an average rating of "Buy" and an average target price of $6.83.

Ceragon Networks Price Performance

The company has a market cap of $367.30 million, a PE ratio of 19.55 and a beta of 1.61. The stock's 50-day moving average is $3.30 and its 200 day moving average is $2.89.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. WINTON GROUP Ltd acquired a new stake in Ceragon Networks in the second quarter worth about $26,000. Cubist Systematic Strategies LLC purchased a new position in shares of Ceragon Networks in the 2nd quarter valued at approximately $56,000. Sei Investments Co. boosted its stake in Ceragon Networks by 45.7% in the 2nd quarter. Sei Investments Co. now owns 27,423 shares of the communications equipment provider's stock worth $69,000 after purchasing an additional 8,607 shares in the last quarter. XTX Topco Ltd purchased a new stake in Ceragon Networks during the 3rd quarter worth approximately $152,000. Finally, Walleye Capital LLC increased its stake in Ceragon Networks by 95.1% during the 3rd quarter. Walleye Capital LLC now owns 283,933 shares of the communications equipment provider's stock valued at $778,000 after purchasing an additional 138,411 shares in the last quarter. 13.31% of the stock is owned by institutional investors and hedge funds.

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.