Ceragon Networks Ltd (NASDAQ:CRNT) saw an uptick in trading volume on Thursday . 8,257 shares were traded during trading, a decline of 98% from the previous session’s volume of 345,066 shares.The stock last traded at $2.85 and had previously closed at $2.93.
Several research firms recently weighed in on CRNT. Oppenheimer set a $4.00 price target on Ceragon Networks and gave the company a “buy” rating in a report on Wednesday, July 3rd. ValuEngine upgraded Ceragon Networks from a “sell” rating to a “hold” rating in a report on Wednesday, July 17th. Finally, Zacks Investment Research lowered Ceragon Networks from a “buy” rating to a “sell” rating in a report on Thursday, August 15th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. Ceragon Networks presently has an average rating of “Hold” and a consensus price target of $3.83.
The company has a fifty day moving average of $2.54 and a two-hundred day moving average of $3.06. The company has a market cap of $227.05 million, a PE ratio of 14.15, a price-to-earnings-growth ratio of 1.46 and a beta of 1.23.
A number of large investors have recently added to or reduced their stakes in the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in Ceragon Networks by 32.0% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 103,040 shares of the communications equipment provider’s stock worth $370,000 after purchasing an additional 24,951 shares during the period. Penserra Capital Management LLC purchased a new stake in Ceragon Networks in the first quarter worth $61,000. Acadian Asset Management LLC increased its stake in Ceragon Networks by 2.3% in the first quarter. Acadian Asset Management LLC now owns 3,191,940 shares of the communications equipment provider’s stock worth $11,460,000 after purchasing an additional 71,937 shares during the period. AJO LP increased its stake in Ceragon Networks by 2.0% in the first quarter. AJO LP now owns 693,898 shares of the communications equipment provider’s stock worth $2,491,000 after purchasing an additional 13,282 shares during the period. Finally, Delek Group Ltd. purchased a new stake in Ceragon Networks in the first quarter worth $186,000. Institutional investors own 17.90% of the company’s stock.
Ceragon Networks Company Profile (NASDAQ:CRNT)
Ceragon Networks Ltd. provides wireless backhaul solutions that enable cellular operators and other wireless service providers to deliver voice and data services worldwide. Its wireless backhaul solutions use microwave and millimeter wave technology to transfer telecommunication traffic between base stations, small sells, and the core of the service provider's network.
Recommended Story: The risks of owning bonds
Receive News & Ratings for Ceragon Networks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ceragon Networks and related companies with MarketBeat.com's FREE daily email newsletter.