Ceragon Networks Ltd (NASDAQ: CRNT) is 52.31% higher on its value in year-to-date trading and has touched a low of $1.56 and a high of $3.23 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The CRNT stock was last observed hovering at around $3.14 in the last trading session, with the day’s gains setting it 0.15%.
Currently trading at $3.29, the stock is 8.60% and 18.69% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.29 million and changing 4.78% at the moment leaves the stock 52.48% off its SMA200. CRNT registered 101.84% gain for a year compared to 6-month gain of 68.72%. The firm has a 50-day simple moving average (SMA 50) of $0.87 and a 200-day simple moving average (SMA200) of $10.03.
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The stock witnessed a 15.44% loss in the last 1 month and extending the period to 3 months gives it a 56.67%, and is 7.87% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 4.42% over the week and 4.12% over the month.
Ceragon Networks Ltd (CRNT) has around 1407 employees, a market worth around $277.64M and $347.18M in sales. Current P/E ratio is 45.13 and Fwd P/E is 8.02. Profit margin for the company is 1.79%. Distance from 52-week low is 110.90% and 1.86% from its 52-week high. The company has generated returns on investments over the last 12 months (4.21%).
Ceragon Networks Ltd quarterly earnings per share for the current quarter are estimated at $0.04 with sales reaching $87.41M over the same period.The EPS is expected to grow by 55.00% this year, but quarterly earnings will post 13.50% year-over-year. Quarterly sales are estimated to grow 4.80% in year-over-year returns.
Ceragon Networks Ltd (CRNT) Top Institutional Holders
64 institutions hold shares in Ceragon Networks Ltd (CRNT), with institutional investors hold 17.57% of the company’s shares. The shares outstanding are 85.42M, and float is at 69.20M with Short Float at 0.60%. Institutions hold 13.65% of the Float.
The top institutional shareholder in the company is First Wilshire Securities Management Inc with over 3.04 million shares valued at $10.01 million. The investor’s holdings represent 3.56% of the CRNT Shares outstanding. As of Dec 30, 2023, the second largest holder is ARK Investment Management, LLC with 1.14 million shares valued at $3.76 million to account for 1.34% of the shares outstanding. The other top investors are Essex Investment Management Co LLC which holds 1.06 million shares representing 1.24% and valued at over $3.5 million, while Arrowstreet Capital, Limited Partnership holds 0.94% of the shares totaling 0.81 million with a market value of $2.65 million.
