Technology

Can Ceragon Networks Ltd (NASDAQ:CRNT) Push Past $2.20?

Ceragon Networks Ltd (NASDAQ:CRNT)

Ceragon Networks Ltd (NASDAQ:CRNT) failed for the fourth time, since mid-August, to close above the $2.20 level. Volume was heavy for the day’s trading as over 1 million shares changed hands on a stock that has an average daily volume of under 360,000.

Ceragon Networks Ltd (NASDAQ:CRNT)

Ceragon Networks Ltd (NASDAQ:CRNT) provides wireless backhaul solutions that enable cellular operators and other wireless service providers to deliver voice, data, and multimedia services globally. Ceragon’s offerings utilize microwave technology to transfer telecommunication traffic between base stations, and the core of the service provider’s network. Their clients include wireless service providers, public safety organizations, government agencies and utility companies

Over two months ago, its FibeAir IP-20 Platform was selected by a Southeast Asia wireless service provider to expand and modernize its nationwide 450MHz low-band high coverage CDMA network to a 4G-LTE network. Even so, the market did not move the shares higher – CDMA shares actually lost ground over the next three days.

CDMA Stock Performance

CDMA has a 52-week high of $4.23 and a 52-week low of $1.88.

Earnings have been erratic for the telecommunications firm. In 2012 the company lost (-$0.64) per share and followed that loss in 2013 with a loss of (-$1.23), and a loss of (-$1.22) in 2014. For 2015, the company posted a per share profit of $0.01 and last year that figure improved to $0.15.

Interestingly, the positive earnings trend comes alongside a decline in reported sales. In 2014 the posted sales figure was $371.1 million, followed by $349.4 million in 2015, and $293.6 million in 2016.

Three investment firms follow Ceragon Networks Ltd (NASDAQ:CRNT). Two rate CRNT shares as a “Hold”, while one rates the shares a “Buy”. Their consensus one-year price target is $2.50.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

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About the author: Marc has a degree in economics and a MSc. in Finance. Over his 20-year career, Marc has worked for global investment firms in Europe and the United States as an analyst, fund manager, and consultant.

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Marc has a degree in economics and a MSc. in Finance. Marc worked for global investment firms in Europe and the United States as an analyst, fund manager, and consultant.

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