Ceragon Networks Ltd (NASDAQ:CRNT) price on current trading day, fall -3.20% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $4.23.
A look at the stock’s price movement, the close in the last trading session was $4.37, moving within a range at $4.19 and $4.44. The beta value (5-Year monthly) was 1.356 while the PE ratio in trailing twelve months stood at 19.42. Turning to its 52-week performance, $4.70 and $1.80 were the 52-week high and 52-week low respectively. Overall, CRNT moved 72.65% over the past month.
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Ceragon Networks Ltd’s market cap currently stands at around $363.23 million, with investors looking forward to this quarter’s earnings report slated for in January.
Analysts have a consensus estimate of 105.16M for the company’s revenue for the quarter, with a low and high estimate of 102.75M and 107.53M respectively. The average forecast suggests up to a 16.38% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 392.43M, representing a 13.03% jump on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that CRNT is a 100% Buy. On the other hand, the stock is on average a 100% Buy as suggested by medium term indicators while long term indicators are putting the stock in 100% Buy category.
1 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 0 analyst(s) rate the stock as a Hold, 1 recommend CRNT as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
The technical evaluation for the stock shows the PEG ratio is 1.29, with CRNT’s current price about 23.40% and 45.47% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 70.18, while 7-day volatility ratio is 9.93% and 8.40% in the 30-day chart. Further, Ceragon Networks Ltd (CRNT) has a beta value of 1.62, and an average true range (ATR) of 0.27.
If we refocus on Ceragon Networks Ltd (NASDAQ:CRNT), historical trading data shows that trading volumes averaged 2.61 over the past 10 days and 785.69K over the past 3 months. The company’s latest data on shares outstanding shows there are 85.64 million shares.
The 20.46% of Ceragon Networks Ltd’s shares are in the hands of company insiders while institutional holders own 16.71% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 85925.0 on 2024-10-31, giving us a short ratio of 0.29. The data shows that as of 2024-10-31 short interest in Ceragon Networks Ltd (CRNT) stood at 10.0 of shares outstanding, with shares short falling to 0.11 million registered in 2024-09-30. Current price change has pushed the stock 95.83% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the CRNT stock continues to rise going into the next quarter.
