Ceragon Networks Ltd (NASDAQ:CRNT) Stock Gains 13% in a Week: But Why?

In recent times, there has been some bullish action in the Ceragon Networks Ltd (NASDAQ:CRNT) stock and the trend continued on Monday. After the company announced its financial results for the second fiscal quarter yesterday, the stock saw a fair degree of action and ended the day with gains of 3%.

That took the gains delivered by the Ceragon stock over the past week to as much as 13%. In the second fiscal quarter of the year, the company suffered a loss of as much as $1.7 million and that works out to losses of 2 cents per share.

However, the Israeli company, which is based out of Tel Aviv, also noted that once the losses are adjusted for one-time expenses and gains, the loss per share figure comes down to 1 cent a share. The company, which is involved in providing wireless backhaul solutions, generated revenues of as much as $68.6 million for the quarter.

The company also projected that the revenues for the full year 2021 are going to be in the $275 million to $295 million range. The investors seemed to have found the performance acceptable and it now remains to be seen how the Ceragon stock performs over the rest of the week.