Ceragon Networks Ltd. (CRNT) : Traders are bullish on Ceragon Networks Ltd. (CRNT) as it has outperformed the S&P 500 by a margin of 27.21% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 6.14%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 6.8% in the last 1 week, and is up 35.8% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Ceragon Networks Ltd. (NASDAQ:CRNT): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $2.08 and $2.01 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $2.24. The buying momentum continued till the end and the stock did not give up its gains. It closed at $2.20, notching a gain of 5.77% for the day. The total traded volume was 931,061 . The stock had closed at $2.08 on the previous day.
The stock has recorded a 20-day Moving Average of 19.66% and the 50-Day Moving Average is 27.2%. Ceragon Networks Ltd. is up 83.33% in the last 3-month period. Year-to-Date the stock performance stands at 81.82%.
Ceragon Networks Ltd. is a provider of wireless backhaul solutions. The Companys solutions enable cellular operators and other wireless service providers to deliver voice and data services, enabling smart-phone applications, such as Internet browsing, social networking applications, image sharing, music and video applications. The Company also provides its solutions for hauling application in other vertical markets like public safety and oil and gas offshore drilling platforms. Its wireless backhaul solutions use microwave radio technology to transfer large amounts of telecommunication traffic between base stations and small-cells and the core of the service providers network. It also provides wireless fronthaul solutions that use microwave technology. In addition to providing its solutions, the Company also offers its customers a set of turn-key services, including advanced network and radio planning, site survey, solutions development, installation, maintenance, training and more.