Ceragon Networks (NASDAQ:CRNT) Stock Crosses Above 200 Day Moving Average - What's Next?

Key Points

• Ceragon's stock crossed above its 200-day moving average—the 200‑day MA is $2.25 and the shares traded as high as $2.28 (last at $2.24) on volume of 690,333, marking a short-term technical uptick.
• The analyst picture is mixed with a consensus "Hold" rating and a $3.50 average target (two Buys, one Hold, one Sell), while Zacks recently downgraded the stock to a "strong sell."
• Fundamentals remain soft: Ceragon missed the quarter (EPS $0.02 vs $0.03 est., revenue $82.33M vs $84.23M), has a negative net margin and a ~ $199M market cap, even as several institutional investors have recently increased positions.

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 $2.25 and traded as high as $2.28. Ceragon Networks shares last traded at $2.24, with a volume of 690,333 shares changing hands.

Analysts Set New Price Targets

CRNT has been the subject of a number of research reports. Zacks Research lowered Ceragon Networks from a "hold" rating to a "strong sell" rating in a report on Tuesday, January 20th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Ceragon Networks in a report on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Ceragon Networks currently has a consensus rating of "Hold" and a consensus target price of $3.50.

Ceragon Networks Stock Performance

The stock's fifty day moving average is $2.29 and its two-hundred day moving average is $2.25. The firm has a market cap of $199.20 million, a price-to-earnings ratio of -112.00 and a beta of 1.20.

Ceragon Networks (NASDAQ:CRNT - Get Free Report) last posted its earnings results on Tuesday, February 17th. The communications equipment provider reported $0.02 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.03 by ($0.01). Ceragon Networks had a negative net margin of 0.62% and a positive return on equity of 3.52%. The firm had revenue of $82.33 million for the quarter, compared to analyst estimates of $84.23 million. Sell-side analysts predict that Ceragon Networks Ltd. will post 0.26 earnings per share for the current year.

Hedge Funds Weigh In On Ceragon Networks

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CRNT. NewEdge Advisors LLC raised its stake in Ceragon Networks by 132.2% during the 1st quarter. NewEdge Advisors LLC now owns 106,255 shares of the communications equipment provider's stock valued at $250,000 after acquiring an additional 60,498 shares in the last quarter. WealthTrust Axiom LLC increased its holdings in shares of Ceragon Networks by 172.1% during the second quarter. WealthTrust Axiom LLC now owns 464,200 shares of the communications equipment provider's stock valued at $1,142,000 after purchasing an additional 293,600 shares during the period. First Wilshire Securities Management Inc. increased its holdings in shares of Ceragon Networks by 23.6% during the second quarter. First Wilshire Securities Management Inc. now owns 4,058,774 shares of the communications equipment provider's stock valued at $9,985,000 after purchasing an additional 775,782 shares during the period. Qube Research & Technologies Ltd raised its stake in shares of 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. Finally, Squarepoint Ops LLC lifted its holdings in Ceragon Networks by 642.7% in the second quarter. Squarepoint Ops LLC now owns 552,939 shares of the communications equipment provider's stock worth $1,360,000 after purchasing an additional 478,489 shares during the period. 13.31% of the stock is owned by institutional investors.

Ceragon Networks Company Profile

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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