Ceragon Networks (NASDAQ:CRNT) Share Price Crosses Above 200-Day Moving Average - Should You Sell?

Ceragon Networks Ltd. (NASDAQ:CRNT - Get Free Report) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $3.29 and traded as high as $5.15. Ceragon Networks shares last traded at $5.09, with a volume of 1,670,515 shares traded.

Wall Street Analyst Weigh In

CRNT has been the topic of several research analyst reports. Roth Capital raised Ceragon Networks to a "strong-buy" rating in a research report on Monday, October 28th. Roth Mkm assumed coverage on shares of Ceragon Networks in a research report on Monday, October 28th. They set a "buy" rating and a $4.50 target price on the stock. Litchfield Hills Research began coverage on Ceragon Networks in a report on Tuesday, December 3rd. They issued a "buy" rating and a $10.00 price target for the company. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $6.00 target price on shares of Ceragon Networks in a report on Thursday, January 16th. Three equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $6.83.

Ceragon Networks Price Performance

The company has a market cap of $420.27 million, a P/E ratio of 22.36 and a beta of 1.60. The business has a 50-day moving average of $4.44 and a two-hundred day moving average of $3.29.

Institutional Investors Weigh In On Ceragon Networks

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Cubist Systematic Strategies LLC purchased a new position in Ceragon Networks during the 2nd quarter worth $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. Perigon Wealth Management LLC purchased a new stake in Ceragon Networks during the 4th quarter worth approximately $90,000. JPMorgan Chase & Co. purchased a new stake in Ceragon Networks during the 3rd quarter worth approximately $104,000. Finally, XTX Topco Ltd purchased a new position in shares of Ceragon Networks in the third quarter worth $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.