Ceragon Networks Ltd. (NASDAQ:CRNT - Get Free Report) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $3.18 and traded as high as $4.81. Ceragon Networks shares last traded at $4.73, with a volume of 1,851,426 shares traded.
Analyst Ratings Changes
Several equities research analysts have recently weighed in on the stock. Needham & Company LLC reiterated a "buy" rating and set a $6.00 price objective (up from $4.50) on shares of Ceragon Networks in a research report on Wednesday, December 4th. Roth Mkm started coverage on Ceragon Networks in a report on Monday, October 28th. They set a "buy" rating and a $4.50 price target for the company. Litchfield Hills Research started coverage on Ceragon Networks in a research note on Tuesday, December 3rd. They issued a "buy" rating and a $10.00 price objective on the stock. Finally, Roth Capital raised Ceragon Networks to a "strong-buy" rating in a research note on Monday, October 28th. Three investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $6.83.
Check Out Our Latest Stock Analysis on Ceragon Networks
Ceragon Networks Stock Performance
The firm has a market cap of $399.76 million, a price-to-earnings ratio of 21.27 and a beta of 1.60. The business has a 50 day simple moving average of $4.15 and a 200-day simple moving average of $3.20.
Institutional Trading of Ceragon Networks
Several institutional investors and hedge funds have recently made changes to their positions in the company. WINTON GROUP Ltd bought a new position in shares of Ceragon Networks during the 2nd quarter worth approximately $26,000. Cubist Systematic Strategies LLC bought a new position in Ceragon Networks in the 2nd quarter valued at $56,000. Sei Investments Co. increased its position in shares of Ceragon Networks by 45.7% during the 2nd quarter. Sei Investments Co. now owns 27,423 shares of the communications equipment provider's stock valued at $69,000 after purchasing an additional 8,607 shares during the last quarter. JPMorgan Chase & Co. bought a new stake in shares of Ceragon Networks during the 3rd quarter worth $104,000. Finally, XTX Topco Ltd purchased a new position in shares of Ceragon Networks in the 3rd quarter worth about $152,000. Hedge funds and other institutional investors own 13.31% of the company's stock.
About Ceragon Networks
(
Get Free Report)
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.
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