Ceragon Networks (NASDAQ:CRNT – Get Rating) will release its quarterly earnings data before the market opens on Monday, August 1st. Analysts are expecting the company to report earnings per share of ($0.04) for the quarter. Individuals interested in listening to the Company’s earnings conference call can do so through this link.
Ceragon Networks (NASDAQ:CRNT – Get Rating) last announced earnings results on Monday, May 2nd. The communications equipment maker reported earnings per share of ($0.03) for the quarter, beating analyst consensus estimates of ($0.04) by $0.01. The company had revenue of $70.32 million for the quarter, compared to analyst estimates of $73.09 million. Ceragon Networks had a negative return on equity of 4.69% and a negative net margin of 5.44%. For the same period last year, the company earned ($0.01) EPS. On average, analysts expect Ceragon Networks to report earnings per share of $0 for the current fiscal year and $0 for the next fiscal year.
Ceragon Networks stock performance
NASDAQ CRNT shares opened at $2.60 on Monday. The stock’s 50-day simple moving average is $2.11 and its 200-day simple moving average is $2.10. Ceragon Networks has a 12-month low of $1.53 and a 12-month high of $4.33.
Hedge funds rely on Ceragon Networks
A number of hedge funds and other institutional investors recently changed their holdings in the company. Jane Street Group LLC acquired a new position in Ceragon Networks stock valued at approximately $25,000 during the first quarter. Renaissance Technologies LLC increased its stake in Ceragon Networks by 20.2% in the first quarter. Renaissance Technologies LLC now owns 654,135 shares of the communications equipment maker, valued at $1,393,000, after purchasing an additional 110,093 shares last quarter. invesco ltd increased its stake in Ceragon Networks by 171.1% in the first quarter. invesco ltd now owns 214,051 shares of the communications equipment maker, valued at $456,000, after purchasing an additional 135,085 shares last quarter. Finally, Goldman Sachs Group Inc. increased its stake in Ceragon Networks stock by 772.5% in the first quarter. Goldman Sachs Group Inc. now owns 543,037 shares of the communications equipment maker, valued at $1,157,000, after purchasing an additional 480,796 shares last quarter. 23.38% of the shares are currently owned by hedge funds and other institutional investors.
Wall Street analysts are weighing
Separately, StockNews.com assumed coverage of Ceragon Networks in a research note on Thursday, March 31st. They gave the stock a “hold” rating.
Company profile of Ceragon Networks
Ceragon Networks Ltd. provides wireless backhaul and fronthaul solutions for wireless operators and other wireless service providers. Its solutions use microwave and millimeter wave radio technology to carry telecommunications traffic between base stations, small/distributed cells and the core of the service provider’s network.
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