In today’s recent session, 2,881,489 shares of the Ceragon Networks Ltd.(NASDAQ:CRNT) have been traded, and its beta is 1.98. Most recently the company’s share price was $4.79, and it changed around -$0.26 or -0.05% from the last close, which brings the market valuation of the company to $376.98 Million. CRNT at last check was trading at a discount to its 52-week high of $6.9, offering almost -44.05% off that amount. The share price’s 52-week low was $0.99, which indicates that the recent value has risen by an impressive 79.33% since then. We note from Ceragon Networks Ltd.’s average daily trading volume that its 10-day average is 5.29 Million shares, with the 3-month average coming to 4.46 Million.

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Ceragon Networks Ltd. stock received a consensus recommendation rating of Hold, based on a mean score of 3.5. If we narrow it down even further, the data shows that none out of 2 analysts rate the stock as a Sell; another but none rate it as Overweight. Among the rest, no body recommended CRNT as a Hold, whereas 1 deemed it a Buy, and 1 rated it as Underweight. Ceragon Networks Ltd. is expected to report earnings per share of -$0.03 for the current quarter.

Ceragon Networks Ltd. (NASDAQ:CRNT): Trading Information Today

Although CRNT has been showing red trend so far today with a performance of -5.15% at the end of last trading. The performance over the last five days has remained in the red territory. The rise to weekly highs of $5.58- on Wednesday, Feb 17 increased the stock’s daily price by 14.03%. The company’s shares are currently up 0.73% year-to-date, but still down -0.1388 over the last five days. On the other hand, Ceragon Networks Ltd. (NASDAQ:CRNT) is -0.05% down in the 30-day period. We can see from the shorts that 1.32 Million shares have been sold at a short interest cover period of 0.3 day(s).

The consensus price target as assigned by Wall Street analysts is $6.5, which translates to bears needing to increase their stock price by 35.7% from its current value. Analyst projections state that CRNT is forecast to be at a low of $6.5 and a high of $6.5. In order for the stock price to hit the forecast high, the stock would need to surge +35.7% from its current level, while the stock would need to crash 35.7% from its current level to reach the projected low.

Ceragon Networks Ltd. (CRNT) projections and forecasts

Ceragon Networks Ltd. share prices are not performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen +102 percent over the past six months and at a -100% annual growth rate that is well below the industry average of 11.5%. Moreover, analysts have decided to roll up on their fiscal year 2021 revenue estimates. The rating firms predict that it will gain +62.5% in revenue this quarter, and will report an increase of 83.3% in the next quarter. The year-over-year growth rate is expected to be 7.8%, up from the previous year.

Consensus estimates provided by 2 financial analysts predict the company will bring in an average of $64.55 Million in revenue for the current quarter. 2 analysts expect Ceragon Networks Ltd. to make $68.3 Million in revenue for the quarter ending June 01, 2021. The company’s sales for the same quarter a year ago was $55.87 Million. Analysts predict that the company’s current quarter sales will jump, forecast at 15.5%.

Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -6.19%. Ceragon Networks Ltd. earnings are expected to decrease by -621.5% in 2021, but the outlook is positive 15% per year for the next five years.


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Ceragon Networks Ltd. (NASDAQ:CRNT)’s Biggest Investors

Upon looking at major shareholders, it appears that insiders hold 24.32% of Ceragon Networks Ltd. shares, and 12.91% of them are in the hands of institutional investors. The stock currently has a share float of 17.06%. Ceragon Networks Ltd. stock is held by 49 institutions, with Renaissance Technologies, LLC being the largest institutional investor. By Dec 30, 2020, it held 4.12% of the shares, which is about 3.32 Million shares worth $9.24 Million.

Royce & Associates LP, with 1.42% or 1.14 Million shares worth $3.18 Million as of Dec 30, 2020, holds the second largest percentage of outstanding shares.

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ARK ETF Tr-ARK Israel Innovative Technology ETF and Royce Opportunity Fund were the top two Mutual Funds as of Dec 30, 2020. The former held 653123 shares worth $1.82 Million, making up 0.81% of all outstanding shares. On the other hand, Royce Opportunity Fund held roughly 562.52 Thousand shares worth around $1.56 Million, which represents about 0.7% of the total shares outstanding.

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