Ceragon Networks (NASDAQ:CRNT) Shares Cross Above 200-Day Moving Average - Should You Sell?

Ceragon Networks Ltd. (NASDAQ:CRNT - Get Free Report)'s share price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $3.09 and traded as high as $5.63. Ceragon Networks shares last traded at $5.48, with a volume of 8,099,058 shares.

Analyst Upgrades and Downgrades

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

Ceragon Networks Stock Down 2.2 %

The company's 50 day moving average price is $3.91 and its two-hundred day moving average price is $3.11. The firm has a market cap of $457.84 million, a PE ratio of 24.36 and a beta of 1.60.

Hedge Funds Weigh In On Ceragon Networks

Large investors have recently bought and sold shares of the business. WINTON GROUP Ltd bought a new stake in shares of Ceragon Networks during the second quarter worth $26,000. Cubist Systematic Strategies LLC bought a new stake in Ceragon Networks during the 2nd quarter valued at about $56,000. Sei Investments Co. increased its position in shares of Ceragon Networks by 45.7% during the second quarter. Sei Investments Co. now owns 27,423 shares of the communications equipment provider's stock worth $69,000 after acquiring an additional 8,607 shares during the period. JPMorgan Chase & Co. bought a new stake in shares of Ceragon Networks during the third quarter valued at approximately $104,000. Finally, XTX Topco Ltd purchased a new stake in shares of Ceragon Networks in the third quarter valued at approximately $152,000. 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.