Ceragon Networks Ltd. (NASDAQ: CRNT) stock jumped 5.34% on Friday to $2.76 against a previous-day closing price of $2.62. With 1.44 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.7 million shares. During the session, the Communication Equipment company that operates in wider Technology sector, reached to the highest price of $2.8500 whereas the lowest price it dropped to was $2.7302. The 52-week range on CRNT shows that it touched its highest point at $4.33 and its lowest point at $1.53 during that stretch. It currently has a 1-year price target of $5.08. Beta for the stock currently stands at 1.28.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of CRNT was up-trending over the past week, with a rise of 5.75%, but this was up by 6.98% over a month. Three-month performance surged to 41.54% while six-month performance rose 18.45%. The stock lost -34.13% in the past year, while it has gained 6.98% so far this year. A look at the trailing 12-month EPS for CRNT yields -0.19 with Next year EPS estimates of 0.09. For the next quarter, that number is -0.03. This implies an EPS growth rate of 15.60% for this year and 900.00% for next year. EPS is expected to grow by 15.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of -26.40%.
Float and Shares Shorts:
At present, 83.96 million CRNT shares are outstanding with a float of 63.96 million shares on hand for trading. On Jul 14, 2022, short shares totaled 0.96 million, which was 1.15% higher than short shares on Jun 14, 2022. In addition to Mr. Doron Arazi as the firm’s Pres, CEO & Interim CFO, Mr. Mario Querner serves as its Regional Pres of Asia-Pacific & Arica.
Through their ownership of 13.04% of CRNT’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 7.71% of CRNT, in contrast to 5.54% held by mutual funds. Shares owned by individuals account for –. As the largest shareholder in CRNT with 2.67% of the stake, Penserra Capital Management LLC holds 2,244,756 shares worth 2,244,756. A second-largest stockholder of CRNT, Royce & Associates LP, holds 1,178,056 shares, controlling over 1.40% of the firm’s shares. ARK Investment Management LLC is the third largest shareholder in CRNT, holding 1,049,583 shares or 1.25% stake. With a 1.87% stake in CRNT, the Defiance Next Gen Connectivity ET is the largest stakeholder. A total of 1,572,274 shares are owned by the mutual fund manager. The ARK Israel Innovative Technology, which owns about 1.26% of CRNT stock, is the second-largest Mutual Fund holder. It holds 1,062,348 shares valued at 2.73 million. Legg Mason Global Funds Plc – Roy holds 0.51% of the stake in CRNT, owning 426,776 shares worth 1.1 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for CRNT since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.