Ceragon Networks Ltd (NASDAQ:CRNT) shares, rose in value on Thursday, November 21, with the stock price up by 1.25% to the previous day’s close as strong demand from buyers drove the stock to $3.23.
Actively observing the price movement in the last trading, the stock closed the session at $3.19, falling within a range of $3.16 and $3.3655. The value of beta (5-year monthly) was 1.356 whereas the PE ratio was 14.83 over 12-month period. Referring to stock’s 52-week performance, its high was $3.38, and the low was $1.75. On the whole, CRNT has fluctuated by 30.24% over the past month.
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With the market capitalization of Ceragon Networks Ltd currently standing at about $277.36 million, investors are eagerly awaiting this quarter’s results, scheduled for in December.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that CRNT’s technical picture suggests that short-term indicators denote the stock is a Hold on average. However, medium-term indicators have put the stock in the category of 50% Sell while long-term indicators on average have been pointing out that it is a 50% Buy.
The stock’s technical analysis shows that the PEG ratio is about 0.99, with the price of CRNT currently trading nearly 21.25% and 22.68% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 76.46, while the 7-day volatility ratio is showing 7.87% which for the 30-day chart, stands at 5.65%. Furthermore, Ceragon Networks Ltd (CRNT)’s beta value is 1.45, and its average true range (ATR) is 0.17.
A comparison of Ceragon Networks Ltd (CRNT) with its peers suggests the former has fared considerably weaker in the market. CRNT showed an intraday change of 1.25% in last session, and over the past year, it grew by 76.50%%.
Data on historical trading for Ceragon Networks Ltd (NASDAQ:CRNT) indicates that the trading volumes over the past 10 days have averaged 1.12 and over the past 3 months, they’ve averaged 436.67K. According to company’s latest data on outstanding shares, there are 85.42 million shares outstanding.
Nearly 20.46% of Ceragon Networks Ltd’s shares belong to company insiders and institutional investors own 16.71% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 85925.0 shares as on 2024-10-31, resulting in a short ratio of 0.29. According to the data, the short interest in Ceragon Networks Ltd (CRNT) stood at 10.00 of shares outstanding as of 2024-10-31; the number of short shares registered in 2024-09-30 reached 0.11 million. The stock has risen by 49.54% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the CRNT stock heading into the next quarter.
