Ceragon Networks (NASDAQ:CRNT) Share Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Ceragon Networks Ltd. (NASDAQ:CRNT)’s stock price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $3.29 and traded as high as $5.15. Ceragon Networks shares last traded at $5.09, with a volume of 1,670,515 shares changing hands.

Analyst Ratings Changes

CRNT has been the topic of several analyst reports. Roth Mkm assumed coverage on shares of Ceragon Networks in a report on Monday, October 28th. They issued a “buy” rating and a $4.50 price objective on the stock. Litchfield Hills Research started coverage on Ceragon Networks in a research report on Tuesday, December 3rd. They issued a “buy” rating and a $10.00 price target on the stock. Roth Capital upgraded Ceragon Networks to a “strong-buy” rating in a report on Monday, October 28th. Finally, Needham & Company LLC restated a “buy” rating and set a $6.00 target price on shares of Ceragon Networks in a report on Thursday, January 16th. Three research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $6.83.

Ceragon Networks Price Performance

The company has a market cap of $420.27 million, a price-to-earnings ratio of 22.36 and a beta of 1.60. The stock has a 50-day moving average price of $4.49 and a 200 day moving average price of $3.31.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Walleye Capital LLC grew its holdings in shares of Ceragon Networks by 95.1% during the third quarter. Walleye Capital LLC now owns 283,933 shares of the communications equipment provider’s stock worth $778,000 after buying an additional 138,411 shares in the last quarter. Inspire Investing LLC bought a new position in shares of Ceragon Networks during the 4th quarter worth approximately $903,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Ceragon Networks in the second quarter valued at approximately $56,000. Sei Investments Co. grew its position in Ceragon Networks by 45.7% in the second quarter. Sei Investments Co. now owns 27,423 shares of the communications equipment provider’s stock valued at $69,000 after purchasing an additional 8,607 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in Ceragon Networks by 35.4% in the 2nd quarter. Renaissance Technologies LLC now owns 643,816 shares of the communications equipment provider’s stock valued at $1,610,000 after buying an additional 168,416 shares during the last quarter. Institutional investors own 13.31% of the company’s stock.

About Ceragon Networks

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.