Stocks of Ceragon Networks Ltd. (NASDAQ:CRNT) traded higher last session on Wall Street, up 0.48% to $2.08.
According to the data, Ceragon Networks Ltd. (NASDAQ:CRNT) has 2 analysts covering its stock. The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $6.00 and a low of $5.25, we find $5.63. Given the previous closing price of $2.07, this indicates a potential upside of 171.98 percent. CRNT stock price is now 5.73% away from the 50-day moving average and 1.08% away from the 200-day moving average. The market capitalization of the company currently stands at $173.56M.
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A total of 0 analysts have issued a hold rating and 2 have given it a buy rating. Brokers who have rated the stock have averaged $5.63 as their price target over the next twelve months.
With the price target of $6, Aegis Capital recently initiated with Buy rating for Ceragon Networks Ltd. (NASDAQ: CRNT). On May 04, 2021, Needham Upgraded its previous ‘Hold’ rating to ‘Buy’ on the stock keeping its target price maintained at $4.50, while ‘Oppenheimer’ rates the stock as ‘Outperform’.
A total of 21.70% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in CRNT stock. A new stake in Ceragon Networks Ltd. shares was purchased by ION ASSET MANAGEMENT LTD. during the first quarter worth $6,674,000. WESTERLY CAPITAL MANAGEMENT, LLC invested $593,000 in shares of CRNT during the first quarter. In the first quarter, MILLENNIUM MANAGEMENT LLC acquired a new stake in Ceragon Networks Ltd. valued at approximately $48,000. QUBE RESEARCH & TECHNOLOGIES LTD acquired a new stake in CRNT for approximately $32,000. GLOBAL TRUST ASSET MANAGEMENT, LLC purchased a new stake in CRNT valued at around $3,000 in the second quarter. In total, there are 83 active investors with 15.40% ownership of the company’s stock.
Tuesday’s opening bell rang with an opening price of $2.0800 for Ceragon Networks Ltd. (NASDAQ: CRNT). During the past 12 months, Ceragon Networks Ltd. has had a low of $1.53 and a high of $2.87. As of last week, the company has a debt-to-equity ratio of 0.23, a current ratio of 1.60, and a quick ratio of 1.10. The fifty day moving average price for CRNT is $1.9672 and a two-hundred day moving average price translates $2.0578 for the stock.
The latest earnings results from Ceragon Networks Ltd. (NASDAQ: CRNT) was released for Jun, 2022. According to the Communication Equipment Company, earnings per share came in at -$0.02, inline with analysts’ expectations of -$0.02. This compares to $0.00 EPS in the same period last year. The net profit margin was -5.70% and return on equity was -12.60% for CRNT. The company reported revenue of $78.65 million for the quarter, compared to $76.11 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 3.33 percent. For the current quarter, analysts expect CRNT to generate $78.48M in revenue.
Ceragon Networks Ltd.(CRNT) Company Profile
Ceragon Networks Ltd. provides wireless backhaul and fronthaul solutions that enable cellular operators and other wireless service providers. Its solutions use microwave and millimeter wave radio technology to transfer telecommunication traffic between base stations, small/distributed cells, and the core of the service provider’s network. The company also uses microwave technology for ultra-high speed, ultra-low latency communication for wireless 5G and 4G, 3G, and other cellular base stations. In addition, it provides IP-20 all-outdoor solutions, such as IP-20C, IP-20C-HP, IP-20S, IP-20E, and IP-20V; IP-20 split-mount/all-indoor solutions comprising IP-20N/IP-20A, IP-20F, and IP-20G; and IP-50 disaggregated solutions, including IP-50E, IP-50C, IP-50S, and IP-50FX for various short-haul, long-haul, fronthaul, and enterprise access applications. Further, the company offers network management system; and network and radio planning, site survey, solutions development, installation, network auditing and optimization, maintenance, training, and other services. It provides its services to oil and gas companies; public safety organizations; business and public institutions; broadcasters; energy utilities; and private communications networks. The company sells its products through direct sales, original equipment manufacturers, distributors, and system integrators. It operates in North America, Europe, Africa, the Asia Pacific, the Middle East, India, and Latin America. The company was formerly known as Giganet Ltd. and changed its name to Ceragon Networks Ltd. in September 2000. Ceragon Networks Ltd. was incorporated in 1996 and is headquartered in Rosh HaAyin, Israel.
