Ceragon Networks Ltd. (NASDAQ:CRNT) has a beta value of 2.13 and has seen 622,987 shares traded in the last trading session. The company, currently valued at $192.22 Million, closed the last trade at $2.19 per share which meant it lost -$0.01 on the day or -0.45% during that session. The CRNT stock price is -45.66% off its 52-week high price of $3.19 and 54.79% above the 52-week low of $0.99. If we look at the company’s 10-day average daily trading volume, we find that it stood at 652.86 Million shares traded. The 3-month trading volume is 557.41 Million shares.
The consensus among analysts is that Ceragon Networks Ltd. (CRNT) is an Overweight stock at the moment, with a recommendation rating of 2.5. None of the analysts rate the stock as a Sell, while none rate it as Overweight. 1 out of 2 have rated it as a Hold, with 1 advising it as a Buy. None have rated the stock as Underweight. The expected earnings per share for the stock is -$0.01.
Ceragon Networks Ltd. (NASDAQ:CRNT) trade information
Despite being -0.45% in the red today, the stock has traded in the green over the last five days, with the highest price hit on Wednesday, Sep 02 when the CRNT stock price touched $2.44-1 or saw a rise of 10.25%. Year-to-date, Ceragon Networks Ltd. shares have moved 4.29%, while the 5-day performance has seen it change -4.37%. Over the past 30 days, the shares of Ceragon Networks Ltd. (NASDAQ:CRNT) have changed -21.79%. Short interest in the company has seen 476.27 Million shares shorted with days to cover at 0.85.
Wall Street analysts have a consensus price target for the stock at $3.25, which means that the shares’ value could jump 48.4% from current levels. The projected low price target is $3.25 while the price target rests at a high of $3.25. In that case, then, we find that the current price level is +48.4% off the targeted high while a plunge would see the stock lose 48.4% from current levels.
Ceragon Networks Ltd. (CRNT) estimates and forecasts
Figures show that Ceragon Networks Ltd. shares have outperformed across the wider relevant industry. The company’s shares have gained +47.97% over the past 6 months, compared to 7.9% for the industry. Other than that, the company has, however, lowered its growth outlook for the 2020 fiscal year revenue. Growth estimates for the current quarter are -200% and 116.7% for the next quarter. Revenue growth from the last financial year stood is estimated to be -7.7%.
2 analysts offering their estimates for the company have set an average revenue estimate of $71.89 Million for the current quarter. 2 have an estimated revenue figure of $73.38 Million for the next quarter concluding in December 01, 2020. Year-ago sales stood $72.16 Million and $71.26 Million respectively for this quarter and the next, and analysts expect sales will grow by -0.4% for the current quarter and 3% for the next.
If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was +52.6% over the past 5 years. Earnings growth for 2020 is a modest -110.3% while over the next 5 years, the company’s earnings are expected to increase by 15%.
Ceragon Networks Ltd. (NASDAQ:CRNT)’s Major holders
Insiders own 24.25% of the company shares, while shares held by institutions stand at 15.18% with a share float percentage of 20.04%. Investors are also buoyed by the number of investors in a company, with Ceragon Networks Ltd. having a total of 62 institutions that hold shares in the company. The top two institutional holders are Renaissance Technologies, LLC with over 3.09 Million shares worth more than $6.64 Million. As of June 29, 2020, Renaissance Technologies, LLC held 3.83% of shares outstanding.
The other major institutional holder is Norges Bank Investment Management, with the holding of over 2.21 Million shares as of December 30, 2019. The firm’s total holdings are worth over $4.65 Million and represent 2.74% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are Perritt Microcap Opportunities Fund and DFA Continental Small Company Series. As of April 29, 2020, the former fund manager holds about 0.37% shares in the company for having 300000 shares of worth $696Thousand while later fund manager owns 266.24 Thousand shares of worth $617.69 Thousand as of April 29, 2020, which makes it owner of about 0.33% of company’s outstanding stock.