Ceragon Networks (NASDAQ:CRNT) Stock Price Crosses Above 200-Day Moving Average – Here’s Why

Ceragon Networks Ltd. (NASDAQ:CRNT) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred 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.

Analyst Ratings Changes

Several research analysts have commented on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $6.00 price objective on shares of Ceragon Networks in a research note on Thursday, January 16th. Litchfield Hills Research assumed coverage on shares of Ceragon Networks in a research note on Tuesday, December 3rd. They set a “buy” rating and a $10.00 price objective for the company. Roth Mkm assumed 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 for the company. Finally, Roth Capital raised shares of 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 given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $6.83.

Ceragon Networks Price Performance

The firm has a market capitalization of $434.79 million, a P/E ratio of 23.14 and a beta of 1.60. The firm has a 50-day moving average price of $4.44 and a two-hundred day moving average price of $3.29.

Institutional Trading of Ceragon Networks

Several institutional investors and hedge funds have recently made changes to their positions in CRNT. Inspire Investing LLC bought a new stake in shares of Ceragon Networks in the fourth quarter valued at about $903,000. Renaissance Technologies LLC raised its holdings in shares of Ceragon Networks by 35.4% in the second quarter. Renaissance Technologies LLC now owns 643,816 shares of the communications equipment provider’s stock valued at $1,610,000 after acquiring an additional 168,416 shares in the last quarter. Walleye Capital LLC raised its holdings in Ceragon Networks by 95.1% in the third quarter. Walleye Capital LLC now owns 283,933 shares of the communications equipment provider’s stock worth $778,000 after purchasing an additional 138,411 shares in the last quarter. XTX Topco Ltd bought a new position in Ceragon Networks in the third quarter worth about $152,000. Finally, JPMorgan Chase & Co. bought a new position in Ceragon Networks in the third quarter worth about $104,000. 13.31% of the stock is currently owned by institutional investors.

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.