The trading price of Ceragon Networks Ltd. (NASDAQ:CRNT) closed higher on Monday, Feb 22, closing at $5.03, 0.4% higher than its previous close.
Traders who pay close attention to intraday price movement should know that it fluctuated between $4.98 and $5.47. The company’s P/E ratio in the trailing 12-month period was 0, while its 5Y monthly beta was 1.98. In examining the 52-week price action we see that the stock hit a 52-week high of $6.9 and a 52-week low of $0.99. Over the past month, the stock has suffered -2.13% in value.
Analysts have forecast the company to bring in revenue of $64.55 Million for the quarter, with the likely lows of $62.5 Million and highs of $66.6 Million. The average estimate suggests sales will likely up by 15.5% 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 $283.29 Million. The company’s revenue is forecast to grow by +7.8% over what it did in 2020.
On the technical side, indicators suggest CRNT has a 50% 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.
Here is the average analyst rating on the stock as represented by 1.00 to 5.00, with the extremes of 1.00 and 5.00 suggesting the stock should be considered as either strong buy or strong sell respectively. The number of analysts that have assigned CRNT a recommendation rating is 2. Out of them, no one rate it a Hold, while 1 recommend Buy, whereas none assign an Outperform rating. 1 analyst(s) have tagged Ceragon Networks Ltd. (CRNT) as Underperform, while not any of them advise Sell. Analysts have rated the stock Hold, likely urging investors to take advantage of the opportunity to add to their holdings of the company’s shares.
If we dig deeper into the stock’s outlook, we see that the stock’s PEG is 0, which symbolizes a positive outlook. A quick review shows that CRNT’s price is currently -0.95% off the SMA20 and 26.87% off the SMA50. The RSI metric on the 14-day chart is currently showing 53.25, and weekly volatility stands at 9.34%. When measured over the past 30 days, the indicator reaches 9.61%. Ceragon Networks Ltd. (NASDAQ:CRNT)’s beta value is currently sitting at 1.98, while the Average True Range indicator is currently displaying 0.63. With analysts defining $6.5-$6.5 as the low and high price targets, we arrive at a consensus price target of $6.5 for the trailing 12-month period. The current price is about 28.71% off the estimated low and 28.71% off the forecast high, based on this estimate. Investors will be thrilled if CRNT’s share price rises to $6.5, which is the median consensus price. At that level, CRNT’s share price would be +28.71% above current price.
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 +0.4% in the latest trading, and +163.02% in the past year, while Vodafone Grp Plc Ads (VOD) has traded -0.49% on the day and positioned -8.28% lower than it was a year ago. Another comparable company America Movil S.A.B. DE C.V. (AMX) saw its stock close -1.65% lower in the most recent trading session but was down -25.6% in a year. Furthermore, Orange ADR (ORAN) showed an increase of 0.4% on the day while its price kept rising at 163.02% over the past year. Ceragon Networks Ltd. has a P/E ratio of 0, compared to Vodafone Grp Plc Ads 17.81 and America Movil S.A.B. DE C.V.’s 18.93. Also in last trading session, the S&P 500 Index has soared -0.77%, while the Dow Jones Industrial also saw a positive session, up +0.09% on the day.
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An evaluation of the daily trading volume of Ceragon Networks Ltd. (NASDAQ:CRNT) indicates that the 3-month average is 4.46 Million. However, this figure has increased over the past 10 days to an average of 5.53 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 January 28, 2021, stood at 1.32 Million shares, resulting in a short ratio of 0.19 at that time. From this, we can conclude that short interest is 1.63% of the company’s total outstanding shares. It is noteworthy that short shares in January were down slightly from the previous month’s figure, which was 484.65 Million. However, since the stock’s price has seen +81.65% year-to-date, investors’ interest is likely to be reignited due to its potential to move even higher.