The trading price of Ceragon Networks Ltd (NASDAQ:CRNT) closed higher on Monday, November 18, and closing at $3.12, 15.13% higher than its previous close.
Traders who pay close attention to intraday price movement should know that it fluctuated between $2.74 and $3.13. The company’s P/E ratio in the trailing 12-month period was 14.33, while its 5Y monthly beta was 1.356. In examining the 52-week price action we see that the stock hit a 52-week high of $3.38 and a 52-week low of $1.72. Over the past month, the stock has gained 19.08% in value.
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Ceragon Networks Ltd, whose market valuation is $257.47 million at the time of this writing, is expected to release its quarterly earnings report in December. Investors’ optimism about the company’s current quarter earnings report is understandable. Analysts have predicted the quarterly earnings per share to grow by 0.1 per share this quarter, however they have predicted annual earnings per share of 0.35 for current year and 0.41 for next year.
Analysts have forecast the company to bring in revenue of 106.36M for the current quarter, with the likely lows of 105.2M and highs of 107.53M. From the analysts’ viewpoint, the consensus estimate for the company’s annual revenue is 393.64M.
On the technical side, indicators suggest CRNT has a 50% Sell on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 50% Sell, while an average of long term indicators suggests that the stock is currently 50% 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 1. Out of them, 0 rate it a Hold, while 1 recommend Buy, whereas 0 assign an Overweight rating. 0 analyst(s) have tagged Ceragon Networks Ltd (CRNT) as Underweight, while 0 advise Sell. Analysts have rated the stock Buy, 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 0.96, which symbolizes a positive outlook. A quick review shows that CRNT’s price is currently 21.73% off the SMA20 and 19.73% off the SMA50. The RSI metric on the 14-day chart is currently showing 73.75, and weekly volatility stands at 10.97%. When measured over the past 30 days, the indicator reaches 5.34%. Ceragon Networks Ltd (NASDAQ:CRNT)’s beta value is currently sitting at 1.42, while the Average True Range indicator is currently displaying 0.17.
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 15.13% in the latest trading, and 78.29% in the past year. Ceragon Networks Ltd has a P/E ratio of 14.33.
An evaluation of the daily trading volume of Ceragon Networks Ltd (NASDAQ:CRNT) indicates that the 3-month average is 390.58K. However, this figure has increased over the past 10 days to an average of 0.91.
Currently, records show that 85.42 million of the company’s shares remain outstanding. The insiders hold 20.46% of outstanding shares, whereas institutions hold 16.74%. The stats also highlight that short interest as of 2024-10-31, stood at 85925.0 shares, resulting in a short ratio of 0.29 at that time. From this, we can conclude that short interest is 10.00 of the company’s total outstanding shares. It is noteworthy that short shares in October were down slightly from the previous month’s figure, which was 0.11 million. However, since the stock’s price has seen 44.44% year-to-date, investors’ interest is likely to be reignited due to its potential to move even higher.
