Ceragon Networks (NASDAQ:CRNT) Stock Passes Above Two Hundred Day Moving Average – Should You Sell?

Shares of Ceragon Networks Ltd. (NASDAQ:CRNT) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $2.66 and traded as high as $3.18. Ceragon Networks shares last traded at $2.79, with a volume of 3,185,265 shares.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Roth Capital upgraded shares of Ceragon Networks to a “strong-buy” rating in a report on Monday, October 28th. Needham & Company LLC reaffirmed a “buy” rating and set a $5.25 price objective on shares of Ceragon Networks in a report on Thursday, August 8th. Finally, Roth Mkm initiated coverage on Ceragon Networks in a report on Monday, October 28th. They issued a “buy” rating and a $4.50 target price for the company. Two analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Strong Buy” and an average price target of $4.88.

Ceragon Networks Stock Down 3.9 %

The company has a fifty day moving average of $2.60 and a two-hundred day moving average of $2.67. The stock has a market capitalization of $231.48 million, a price-to-earnings ratio of 12.82 and a beta of 1.35.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. WINTON GROUP Ltd purchased a new stake in Ceragon Networks in the 2nd quarter valued at approximately $26,000. Cubist Systematic Strategies LLC acquired a new position in Ceragon Networks during the second quarter worth $56,000. Sei Investments Co. boosted its position in shares of 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 purchasing an additional 8,607 shares in the last quarter. Lazard Asset Management LLC increased its holdings in shares of Ceragon Networks by 9,906.9% in the 1st quarter. Lazard Asset Management LLC now owns 94,765 shares of the communications equipment provider’s stock valued at $303,000 after purchasing an additional 93,818 shares in the last quarter. Finally, Kennedy Capital Management LLC acquired a new stake in shares of Ceragon Networks in the first quarter valued at about $316,000. 13.31% of the stock is currently owned by institutional investors and hedge funds.

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.