Ceragon Networks (NASDAQ:CRNT) Share Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Ceragon Networks Ltd. (NASDAQ:CRNT)’s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $3.38 and traded as high as $4.72. Ceragon Networks shares last traded at $4.61, with a volume of 792,438 shares traded.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on CRNT shares. Roth Capital upgraded Ceragon Networks to a “strong-buy” rating in a report on Monday, October 28th. Needham & Company LLC restated a “buy” rating and set a $6.00 price objective on shares of Ceragon Networks in a report on Thursday, January 16th. Roth Mkm assumed coverage on Ceragon Networks in a research note on Monday, October 28th. They issued a “buy” rating and a $4.50 price target for the company. Finally, Litchfield Hills Research assumed coverage on Ceragon Networks in a research note on Tuesday, December 3rd. They issued a “buy” rating and a $10.00 price target for the company. Three equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Ceragon Networks has a consensus rating of “Buy” and an average target price of $6.83.

Ceragon Networks Stock Up 0.2 %

The firm has a market capitalization of $393.79 million, a P/E ratio of 20.96 and a beta of 1.60. The firm has a 50 day moving average of $4.61 and a 200-day moving average of $3.38.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Perigon Wealth Management LLC acquired a new position in Ceragon Networks during the fourth quarter valued at approximately $90,000. Cubist Systematic Strategies LLC acquired a new position in Ceragon Networks during the second quarter valued at approximately $56,000. Sei Investments Co. increased its holdings 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 buying an additional 8,607 shares in the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in shares of Ceragon Networks during the fourth quarter worth $166,000. Finally, JPMorgan Chase & Co. acquired a new position in shares of Ceragon Networks during the third quarter worth $104,000. 13.31% of the stock is currently owned by institutional investors and hedge funds.

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.