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

Key Points

• Ceragon's shares crossed above its 200-day moving average, with the 200‑day MA at $2.27; the stock traded as high as $2.78 and last reported $2.65 on volume of 427,051 shares.
• Analyst coverage is mixed — three Buys, one Hold and one Sell — leaving a MarketBeat consensus rating of "Hold" and a consensus price target of $3.50; recent actions include a Zacks upgrade to Hold, a Lake Street buy initiation ($3.50 TP) and a Weiss downgrade to Sell.
• Fundamentals remain stretched: market cap ~$234.2M, PE of -132.5, a recent quarterly EPS miss ($0.02 vs. $0.03 expected) and a negative net margin, although several institutional investors have recently increased positions and institutions own about 13.31% of the stock.

Ceragon Networks Ltd. (NASDAQ:CRNT - Get Free Report) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $2.27 and traded as high as $2.78. Ceragon Networks shares last traded at $2.65, with a volume of 427,051 shares trading hands.

Analyst Upgrades and Downgrades

CRNT has been the subject of a number of recent analyst reports. Zacks Research upgraded Ceragon Networks from a "strong sell" rating to a "hold" rating in a report on Tuesday, April 21st. Lake Street Capital initiated coverage on Ceragon Networks in a research note on Tuesday, March 31st. They issued a "buy" rating and a $3.50 target price on the stock. Finally, Weiss Ratings lowered shares of Ceragon Networks from a "hold (c-)" rating to a "sell (d)" rating in a research note on Monday, April 20th. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Ceragon Networks presently has an average rating of "Hold" and a consensus price target of $3.50.

Ceragon Networks Price Performance

The firm has a market capitalization of $234.23 million, a PE ratio of -132.50 and a beta of 1.32. The stock's 50-day moving average price is $2.34 and its 200 day moving average price is $2.27.

Ceragon Networks (NASDAQ:CRNT - Get Free Report) last announced its quarterly earnings data on Tuesday, February 17th. The communications equipment provider reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.01). The firm had revenue of $82.33 million during the quarter, compared to the consensus estimate of $84.23 million. Ceragon Networks had a positive return on equity of 3.52% and a negative net margin of 0.62%. Equities research analysts forecast that Ceragon Networks Ltd. will post 0.15 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. CSM Advisors LLC purchased a new stake in shares of Ceragon Networks in the 3rd quarter worth approximately $4,819,000. Private Advisor Group LLC bought a new stake in Ceragon Networks during the 3rd quarter valued at $2,247,000. Squarepoint Ops LLC increased its holdings in shares of Ceragon Networks by 642.7% in the 2nd quarter. Squarepoint Ops LLC now owns 552,939 shares of the communications equipment provider's stock valued at $1,360,000 after acquiring an additional 478,489 shares during the period. Essex Investment Management Co. LLC raised its position in shares of Ceragon Networks by 36.9% in the 3rd quarter. Essex Investment Management Co. LLC now owns 1,418,197 shares of the communications equipment provider's stock worth $3,304,000 after acquiring an additional 382,058 shares in the last quarter. Finally, Qube Research & Technologies Ltd boosted its position in Ceragon Networks by 100.4% during the second quarter. Qube Research & Technologies Ltd now owns 580,093 shares of the communications equipment provider's stock valued at $1,427,000 after purchasing an additional 290,695 shares in the last quarter. Hedge funds and other institutional investors own 13.31% of the company's stock.

About Ceragon Networks

Ceragon Networks Ltd. is a global provider of wireless backhaul solutions, specializing in high-capacity, low-latency connectivity for mobile operators and private networks. The company designs and manufactures a portfolio of microwave and millimeter-wave equipment that serves as a fiber alternative for carrying voice, data and video traffic between cell sites and core networks. Ceragon's solutions are engineered to support the rigorous performance requirements of modern 4G and 5G deployments, with an emphasis on scalability, reliability and efficient spectrum utilization.

The company's product lineup includes point-to-point and multi-point radio platforms, as well as software-driven network management tools that enable operators to plan, deploy and monitor end-to-end transport networks.

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