Market Analysts see Ceragon Networks Ltd. [CRNT] gaining to $6. Time to buy?

Ceragon Networks Ltd. [NASDAQ: CRNT] surged by $0.41 during the normal trading session on Tuesday and reaching a high of $2.68 during the day while it closed the day at $2.50. The company report on June 28, 2022 that Ceragon Confirms Receipt of Letters From Aviat Networks.

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Ceragon Networks Ltd. (NASDAQ: CRNT) (“Ceragon” or the “Company”), the global innovator and leading solutions provider of 5G wireless transport, confirms receipt of two letters from its competitor, Aviat Networks, Inc. (“Aviat”). The letters include a request to convene an extraordinary general meeting of shareholders calling for a change in the composition of Ceragon’s Board of Directors, whereby Aviat’s hand-picked nominees would constitute a majority of the Board. The letters also include an indication of interest from Aviat with respect to a potential acquisition of Ceragon.

Ceragon Networks Ltd. stock has also gained 29.53% of its value over the past 7 days. However, CRNT stock has inclined by 15.74% in the 3 months of the year. Over the past six months meanwhile, it has lost -5.30% and lost -3.10% year-on date.

The market cap for CRNT stock reached $201.48 million, with 83.96 million shares outstanding and 64.14 million shares in the current float. Compared to the average trading volume of 455.19K shares, CRNT reached a trading volume of 10580982 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Ceragon Networks Ltd. [CRNT]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CRNT shares is $5.08 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CRNT stock is a recommendation set at 1.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Aegis Capital have made an estimate for Ceragon Networks Ltd. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on September 16, 2021. The new note on the price target was released on May 04, 2021, representing the official price target for Ceragon Networks Ltd. stock.

The Average True Range (ATR) for Ceragon Networks Ltd. is set at 0.17, with the Price to Sales ratio for CRNT stock in the period of the last 12 months amounting to 0.69. The Price to Book ratio for the last quarter was 1.54, with the Price to Cash per share for the same quarter was set at 0.31.

CRNT stock trade performance evaluation

Ceragon Networks Ltd. [CRNT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 29.53. With this latest performance, CRNT shares gained by 42.86% in over the last four-week period, additionally sinking by -5.30% over the last 6 months – not to mention a drop of -32.80% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CRNT stock in for the last two-week period is set at 72.90, with the RSI for the last a single of trading hit 78.09, and the three-weeks RSI is set at 68.25 for Ceragon Networks Ltd. [CRNT]. The present Moving Average for the last 50 days of trading for this stock 1.85, while it was recorded at 2.18 for the last single week of trading, and 2.46 for the last 200 days.

Ceragon Networks Ltd. [CRNT]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Ceragon Networks Ltd. [CRNT] shares currently have an operating margin of +1.65 and a Gross Margin at +30.39. Ceragon Networks Ltd.’s Net Margin is presently recorded at -5.10.

Return on Equity for this stock declined to -10.47, with Return on Assets sitting at -5.25.

Ceragon Networks Ltd.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.20 and a Current Ratio set at 1.70.

Earnings per share (EPS) analysis for Ceragon Networks Ltd. [CRNT] stock

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CRNT. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Ceragon Networks Ltd. go to 15.00%.

Ceragon Networks Ltd. [CRNT]: Insider Ownership positions

There are presently around $22 million, or 12.40% of CRNT stock, in the hands of institutional investors. The top three institutional holders of CRNT stocks are: PENSERRA CAPITAL MANAGEMENT LLC with ownership of 2,244,756, which is approximately -7.024% of the company’s market cap and around 21.70% of the total institutional ownership; ROYCE & ASSOCIATES LP, holding 1,178,056 shares of the stock with an approximate value of $2.46 million in CRNT stocks shares; and ARK INVESTMENT MANAGEMENT LLC, currently with $2.33 million in CRNT stock with ownership of nearly 23.114% of the company’s market capitalization.

Positions in Ceragon Networks Ltd. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 21 institutional holders increased their position in Ceragon Networks Ltd. [NASDAQ:CRNT] by around 1,581,010 shares. Additionally, 43 investors decreased positions by around 2,365,770 shares, while 33 investors held positions by with 6,506,781 shares. The mentioned changes placed institutional holdings at 10,453,561 shares, according to the latest SEC report filing. CRNT stock had 6 new institutional investments in for a total of 259,912 shares, while 19 institutional investors sold positions of 1,207,456 shares during the same period.


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