Ceragon Networks Ltd (NASDAQ:CRNT) price on Friday, June 13, fall -5.08% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $2.24.
A look at the stock’s price movement, the close in the last trading session was $2.36. The PE ratio in trailing twelve months stood at 8.73. Turning to its 52-week performance, $5.73 and $1.95 were the 52-week high and 52-week low respectively. Overall, CRNT moved -7.44% over the past month.
Ceragon Networks Ltd’s market cap currently stands at around $199.00 million, with investors looking forward to this quarter’s earnings report slated for in July.
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.
CRNT’s current price about -5.39% and -0.88% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 42.33, while 7-day volatility ratio is 1.92% and 2.52% in the 30-day chart. Further, Ceragon Networks Ltd (CRNT) has a beta value of 1.05, and an average true range (ATR) of 0.10. Analysts have given the company’s stock an average 52-week price target of $5, forecast between a low of $5 and high of $5. Looking at the price targets, the low is -123.21% off current price level while to achieve the yearly target high, price needs to move -123.21%. Nonetheless, investors will most likely welcome a -123.21% jump to $5 which is the analysts’ median price.
If we refocus on Ceragon Networks Ltd (NASDAQ:CRNT), historical trading data shows that trading volumes averaged 880.85K over the past 3 months. The company’s latest data on shares outstanding shows there are 88.39 million shares.
The 6.99% of Ceragon Networks Ltd’s shares are in the hands of company insiders while institutional holders own 18.34% of the company’s shares. Current price change has pushed the stock -52.03% 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.
