Sunday, October 31, 2010

Ceragon Makes The Connection (NASDAQ: CRNT)

Ceragon Networks was upgraded by Oppenheimer from Perform to Outperform today causing the stock to spike almost 8% on the news. the rating firm cited string earnings and order for 4G equipment from Verizon that hinted the trend would continue. Ceragon provides wireless backhaul solutions that enable service providers to deliver high quality data services on their networks.

Ceragon is currently trades at $11.06 - above its key moving averages. the company has hot a 52-week high of $13.29.

The networking company recently reported earnings of $0.13 per share, beating analyst estimates of 12 cents per share. The company reported revenue of $62.2 million.

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