Ceragon Networks (NASDAQ:CRNT) Stock Passes Above Two Hundred Day Moving Average - Should You Sell?

Key Points

• Ceragon's stock crossed above its 200-day moving average (200‑day MA $2.25), trading as high as $2.27 and last at $2.24 on volume of 448,517 shares.
• Analyst sentiment is mixed with an average rating of Hold and an average price target of $3.50 (three Buys, one Hold, one Sell), including Lake Street Capital’s new Buy coverage and Zacks’ earlier downgrade to Strong Sell.
• The company’s recent quarter missed estimates (EPS $0.02 vs. $0.03 expected; revenue $82.33M vs. $84.23M), and the firm has a ~$199M market cap, negative net margin (-0.62%) and P/E of -112.

Ceragon Networks Ltd. (NASDAQ:CRNT - Get Free Report)'s share price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $2.25 and traded as high as $2.27. Ceragon Networks shares last traded at $2.24, with a volume of 448,517 shares traded.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Lake Street Capital assumed coverage on Ceragon Networks in a report on Tuesday, March 31st. They issued a "buy" rating and a $3.50 price target for the company. Weiss Ratings restated a "hold (c-)" rating on shares of Ceragon Networks in a report on Friday, March 27th. Finally, Zacks Research downgraded Ceragon Networks from a "hold" rating to a "strong sell" rating in a report on Tuesday, January 20th. Three investment analysts have rated the stock with a Buy rating, one has given 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 an average rating of "Hold" and an average price target of $3.50.

Ceragon Networks Stock Up 0.4%

The firm has a fifty day simple moving average of $2.26 and a 200-day simple moving average of $2.25. The company has a market capitalization of $199.20 million, a P/E ratio of -112.00 and a beta of 1.24.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. BNP Paribas Financial Markets acquired a new position in shares of Ceragon Networks during the second quarter worth about $26,000. Jones Financial Companies Lllp boosted its position in shares of Ceragon Networks by 283.3% during the third quarter. Jones Financial Companies Lllp now owns 11,500 shares of the communications equipment provider's stock worth $27,000 after buying an additional 8,500 shares during the period. Walleye Capital LLC acquired a new position in shares of Ceragon Networks during the fourth quarter worth about $27,000. Tamar Securities LLC boosted its position in shares of Ceragon Networks by 67.3% during the fourth quarter. Tamar Securities LLC now owns 17,016 shares of the communications equipment provider's stock worth $36,000 after buying an additional 6,848 shares during the period. Finally, HRT Financial LP boosted its position in shares of Ceragon Networks by 44.3% during the fourth quarter. HRT Financial LP now owns 19,660 shares of the communications equipment provider's stock worth $41,000 after buying an additional 6,039 shares during the period. 13.31% of the stock is owned by institutional investors and hedge funds.

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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