Ceragon Networks Ltd (NASDAQ:CRNT) shares, rose in value, with the stock price up by 0.37% to the previous day’s close as strong demand from buyers drove the stock to $2.68.
Actively observing the price movement in the last trading, the stock closed the session at $2.67. The PE ratio was 9.85 over 12-month period. Referring to stock’s 52-week performance, its high was $5.73, and the low was $2.33. On the whole, CRNT has fluctuated by -40.84% over the past month.
With the market capitalization of Ceragon Networks Ltd currently standing at about $230.13 million, investors are eagerly awaiting this quarter’s results, scheduled for in April.
Projections by analysts suggest varying estimates for the company’s quarterly revenue. Analysts have estimated the company’s revenue for the quarter at 399.45M, with a low estimate of 86M and a high estimate of 88.7M. Wall Street analysts also predicted that the company’s y-o-y revenues would reach 87.14M.
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 50% Sell on average. However, medium-term indicators have put the stock in the category of 50% Buy while long-term indicators on average have been pointing out that it is a 50% Sell.
The stock’s technical analysis shows that the price of CRNT currently trading nearly -23.57% and -36.72% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 27.22, while the 7-day volatility ratio is showing 7.81% which for the 30-day chart, stands at 7.53%. Furthermore, Ceragon Networks Ltd (CRNT)’s beta value is 1.57, and its average true range (ATR) is 0.26.
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 0.37% in last session, and over the past year, it shrunk by -11.55%%. In comparison, Motorola Solutions Inc. (MSI) has moved higher at 0.72%% on the day and was up 26.24% over the past 12 months. On the other hand, the price of Aviat Networks Inc. (AVNW) has risen 1.90%% on the day. The stock, however, is off -40.71% from where it was a year ago. Additionally, there is a gain of 5.94%% for Nokia Corp. ADR (NOK) in last trading while the stock has seen an overall depriciation of 40.87%% over the past year.
Data on historical trading for Ceragon Networks Ltd (NASDAQ:CRNT) indicates that the trading volumes over the past 3 months, they’ve averaged 2.37 million. According to company’s latest data on outstanding shares, there are 85.87 million shares outstanding.
Nearly 26.03% of Ceragon Networks Ltd’s shares belong to company insiders and institutional investors own 21.00% of the company’s shares. The stock has fallen by -42.61% 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.
