Ceragon Networks (NASDAQ:CRNT) Shares Cross Above 200 Day Moving Average – Time to Sell?

Ceragon Networks Ltd. (NASDAQ:CRNT)’s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $3.38 and traded as high as $4.72. Ceragon Networks shares last traded at $4.61, with a volume of 792,438 shares changing hands.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on CRNT shares. Roth Mkm initiated coverage on shares of Ceragon Networks in a report on Monday, October 28th. They issued a “buy” rating and a $4.50 price target on the stock. Needham & Company LLC restated a “buy” rating and issued a $6.00 target price on shares of Ceragon Networks in a research note on Thursday, January 16th. Litchfield Hills Research initiated coverage on Ceragon Networks in a research report on Tuesday, December 3rd. They set a “buy” rating and a $10.00 price target for the company. Finally, Roth Capital upgraded shares of Ceragon Networks to a “strong-buy” rating in a research report on Monday, October 28th. Three investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Ceragon Networks 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 of $4.61 and a 200 day moving average of $3.38. The firm has a market cap of $393.79 million, a P/E ratio of 20.96 and a beta of 1.60.

Hedge Funds Weigh In On Ceragon Networks

A number of large investors have recently modified their holdings of CRNT. Inspire Investing LLC purchased a new stake in Ceragon Networks during the fourth quarter valued at about $903,000. Walleye Capital LLC boosted its holdings in Ceragon Networks by 95.1% during the 3rd quarter. Walleye Capital LLC now owns 283,933 shares of the communications equipment provider’s stock valued at $778,000 after acquiring an additional 138,411 shares during the period. XTX Topco Ltd bought a new position in Ceragon Networks during the 3rd quarter worth approximately $152,000. State of New Jersey Common Pension Fund D purchased a new position in Ceragon Networks in the 4th quarter worth approximately $182,000. Finally, JPMorgan Chase & Co. bought a new stake in Ceragon Networks in the third quarter valued at approximately $104,000. 13.31% of the stock is owned by hedge funds and other institutional investors.

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.