Ceragon Networks (NASDAQ:CRNT) Downgraded by StockNews.com to “Hold”

StockNews.com cut shares of Ceragon Networks (NASDAQ:CRNT) from a buy rating to a hold rating in a report published on Thursday.

Several other equities research analysts also recently issued reports on CRNT. Litchfield Hills Research began coverage on Ceragon Networks in a report on Tuesday, December 3rd. They set a “buy” rating and a $10.00 price objective on the stock. Needham & Company LLC reissued a “buy” rating and set a $6.00 price target on shares of Ceragon Networks in a research report on Wednesday, February 12th. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $6.83.

Ceragon Networks Price Performance

Shares of Ceragon Networks stock opened at $2.80 on Thursday. Ceragon Networks has a 1-year low of $2.33 and a 1-year high of $5.73. The company has a market capitalization of $239.17 million, a PE ratio of 10.37 and a beta of 1.59. The business has a 50-day moving average of $4.38 and a 200-day moving average of $3.52.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of CRNT. Penn Capital Management Company LLC bought a new stake in shares of Ceragon Networks in the 4th quarter valued at approximately $54,000. Commonwealth Equity Services LLC acquired a new position in Ceragon Networks in the fourth quarter worth $58,000. Bravias Capital Group LLC bought a new stake in Ceragon Networks during the fourth quarter valued at $71,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in shares of Ceragon Networks during the fourth quarter worth $81,000. Finally, Perigon Wealth Management LLC bought a new position in shares of Ceragon Networks in the 4th quarter worth about $90,000. Institutional investors own 13.31% of the company’s stock.

About Ceragon Networks

Ceragon Networks Ltd., together with its subsidiaries, provides wireless transport solutions for cellular operators and other wireless service providers in North America, Europe, Africa, the Asia Pacific, the Middle East, India, and Latin America. The company's solutions use microwave and millimeter wave radio technology to transfer telecommunication traffic between base stations, small/distributed cells, and the service provider's network.