Ceragon Networks (NASDAQ:CRNT) Stock Passes Above Two Hundred Day Moving Average of $2.78

Ceragon Networks Ltd. (NASDAQ:CRNT)’s stock price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $2.78 and traded as high as $3.08. Ceragon Networks shares last traded at $3.08, with a volume of 493,753 shares trading hands.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. StockNews.com upgraded shares of Ceragon Networks from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, May 29th. Needham & Company LLC reiterated a “buy” rating and issued a $5.25 price objective on shares of Ceragon Networks in a research report on Thursday, August 8th.

Ceragon Networks Trading Up 3.4 %

The stock has a market cap of $263.09 million, a P/E ratio of 61.60 and a beta of 1.39. The business’s fifty day simple moving average is $2.66 and its 200 day simple moving average is $2.78.

Institutional Trading of Ceragon Networks

Several hedge funds have recently modified their holdings of CRNT. Sei Investments Co. lifted its holdings in Ceragon Networks by 45.7% during the 2nd 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. Eagle Wealth Strategies LLC acquired a new position in shares of Ceragon Networks during the first quarter valued at $31,000. WINTON GROUP Ltd bought a new position in Ceragon Networks in the second quarter valued at about $26,000. Worth Venture Partners LLC increased its position in Ceragon Networks by 17.8% in the fourth quarter. Worth Venture Partners LLC now owns 87,271 shares of the communications equipment provider’s stock worth $189,000 after purchasing an additional 13,174 shares during the period. Finally, Perritt Capital Management Inc. raised its holdings in Ceragon Networks by 6.7% during the 1st quarter. Perritt Capital Management Inc. now owns 217,600 shares of the communications equipment provider’s stock worth $696,000 after purchasing an additional 13,600 shares during the last quarter. 13.31% of the stock is owned by institutional investors.

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.