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

Ceragon Networks Ltd. (NASDAQ:CRNT - Get Free Report)'s share price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $2.66 and traded as high as $3.18. Ceragon Networks shares last traded at $2.79, with a volume of 3,185,265 shares changing hands.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Roth Capital upgraded Ceragon Networks to a "strong-buy" rating in a report on Monday, October 28th. Needham & Company LLC reaffirmed a "buy" rating and issued a $5.25 target price on shares of Ceragon Networks in a research report on Thursday, August 8th. Finally, Roth Mkm started coverage on Ceragon Networks in a research report on Monday, October 28th. They issued a "buy" rating and a $4.50 target price on the stock. Two investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Strong Buy" and an average price target of $4.88.

Ceragon Networks Price Performance

The business has a 50-day simple moving average of $2.60 and a two-hundred day simple moving average of $2.67. The stock has a market cap of $240.88 million, a price-to-earnings ratio of 23.50 and a beta of 1.35.

Institutional Investors Weigh In On Ceragon Networks

Institutional investors have recently made changes to their positions in the company. Acadian Asset Management LLC boosted its stake in shares of Ceragon Networks by 126.4% in the first quarter. Acadian Asset Management LLC now owns 1,555,000 shares of the communications equipment provider's stock valued at $4,966,000 after buying an additional 868,138 shares during the period. Lazard Asset Management LLC lifted its stake in Ceragon Networks by 9,906.9% during the first quarter. Lazard Asset Management LLC now owns 94,765 shares of the communications equipment provider's stock worth $303,000 after purchasing an additional 93,818 shares during the last quarter. Perritt Capital Management Inc. lifted its stake in Ceragon Networks by 6.7% during the first quarter. Perritt Capital Management Inc. now owns 217,600 shares of the communications equipment provider's stock worth $696,000 after purchasing an additional 13,600 shares during the last quarter. Kennedy Capital Management LLC bought a new stake in Ceragon Networks during the first quarter worth $316,000. Finally, WINTON GROUP Ltd bought a new stake in Ceragon Networks during the second quarter worth $26,000. 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.