Ceragon Networks (NASDAQ:CRNT) Share Price Crosses Above 200 Day Moving Average – Should You Sell?

Shares of Ceragon Networks Ltd. (NASDAQ:CRNT) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $2.88 and traded as high as $4.65. Ceragon Networks shares last traded at $4.31, with a volume of 1,799,289 shares traded.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on CRNT shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $6.00 target price (up previously from $4.50) on shares of Ceragon Networks in a report on Wednesday, December 4th. Roth Mkm started coverage on shares of Ceragon Networks in a report on Monday, October 28th. They issued a “buy” rating and a $4.50 price objective for the company. Roth Capital raised shares of Ceragon Networks to a “strong-buy” rating in a report on Monday, October 28th. Finally, Litchfield Hills Research assumed coverage on shares of Ceragon Networks in a research note on Tuesday, December 3rd. They set a “buy” rating and a $10.00 price target for the company. Three equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $6.83.

Ceragon Networks Price Performance

The stock has a 50-day moving average price of $3.33 and a 200-day moving average price of $2.90. The company has a market capitalization of $374.99 million, a P/E ratio of 19.96 and a beta of 1.61.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. WINTON GROUP Ltd acquired a new stake in shares of Ceragon Networks during the second quarter worth $26,000. Cubist Systematic Strategies LLC bought a new stake in Ceragon Networks during the second quarter valued at $56,000. Sei Investments Co. grew 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 acquiring an additional 8,607 shares during the period. XTX Topco Ltd bought a new position in shares of Ceragon Networks in the 3rd quarter worth about $152,000. Finally, Walleye Capital LLC raised its position in shares of Ceragon Networks by 95.1% in the 3rd quarter. Walleye Capital LLC now owns 283,933 shares of the communications equipment provider’s stock worth $778,000 after acquiring an additional 138,411 shares in the last quarter. Institutional investors own 13.31% of the company’s stock.

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.