The trading price of Ceragon Networks Ltd. (NASDAQ:CRNT) closed higher on Tuesday, Jan 12, closing at $3.11, 0.64% higher than its previous close.
Traders who pay close attention to intraday price movement should know that it fluctuated between $3.1099 and $3.2500. The company’s P/E ratio in the trailing 12-month period was 0, while its 5Y monthly beta was 2.12. In examining the 52-week price action we see that the stock hit a 52-week high of $3.49 and a 52-week low of $0.99. Over the past month, the stock has gained 7.93% in value.
Analysts have forecast the company to bring in revenue of $72.12 Million for the quarter, with the likely lows of $71.61 Million and highs of $72.63 Million. The average estimate suggests sales will likely up by 1.2% this quarter compared to what was recorded in the comparable quarter last year. From the analysts’ viewpoint, the consensus estimate for the company’s annual revenue in 2021 is $261Million. The company’s revenue is forecast to drop by -8.6% over what it did in 2020.
On the technical side, indicators suggest CRNT has a 100% Buy on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 100% Buy, while an average of long term indicators suggests that the stock is currently 100% Buy.
To see how Ceragon Networks Ltd. stock has been performing in comparison to its peers in the industry, here are the numbers: CRNT stock’s performance was +0.64% in the latest trading, and +45.58% in the past year, while China Mobile Hong Kong Ltd (CHL) has traded 0% on the day and positioned -33.92% lower than it was a year ago. Another comparable company America Movil S.A.B. DE C.V. (AMX) saw its stock close -2.33% lower in the most recent trading session but was down -8.32% in a year. Furthermore, Vodafone Grp Plc Ads (VOD) showed an increase of 0.64% on the day while its price kept rising at 45.58% over the past year. Ceragon Networks Ltd. has a P/E ratio of 0, compared to China Mobile Hong Kong Ltd’s 6.86 and America Movil S.A.B. DE C.V.’s 31.57. Also in last trading session, the S&P 500 Index has surged 0.04%, while the Dow Jones Industrial also saw a positive session, up +0.19% on the day.
An evaluation of the daily trading volume of Ceragon Networks Ltd. (NASDAQ:CRNT) indicates that the 3-month average is 537.48 Million. However, this figure has declined over the past 10 days to an average of 1.17 Million.
Currently, records show that 81.14 Million of the company’s shares remain outstanding. According to Thomson Reuters data, insiders hold 24.32% of outstanding shares, whereas institutions hold 12.91%. The stats also highlight that short interest as of December 14, 2020, stood at 470.87 Million shares, resulting in a short ratio of 0.77 at that time. From this, we can conclude that short interest is 0.58% of the company’s total outstanding shares. It is noteworthy that short shares in December were down slightly from the previous month’s figure, which was 472.38 Million. However, since the stock’s price has seen +12.59% year-to-date, investors’ interest is likely to be reignited due to its potential to move even higher.
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