Ceragon Networks (NASDAQ:CRNT) Lowered to Hold Rating by StockNews.com

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

Other equities research analysts have also recently issued research reports about the stock. Litchfield Hills Research started coverage on shares of Ceragon Networks in a report on Tuesday, December 3rd. They issued a “buy” rating and a $10.00 price objective on the stock. Craig Hallum began coverage on Ceragon Networks in a research note on Thursday, March 13th. They issued a “buy” rating and a $5.00 price target on the stock. Finally, Needham & Company LLC reissued a “buy” rating and issued a $6.00 target price on shares of Ceragon Networks in a report on Wednesday, February 12th. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $6.38.

Ceragon Networks Trading Down 2.7 %

Shares of CRNT stock opened at $2.51 on Thursday. The company’s fifty day moving average price is $3.71 and its 200-day moving average price is $3.49. The stock has a market cap of $214.40 million, a PE ratio of 9.30 and a beta of 1.62. Ceragon Networks has a 12 month low of $2.33 and a 12 month high of $5.73.

Hedge Funds Weigh In On Ceragon Networks

A number of hedge funds have recently added to or reduced their stakes in the company. Walleye Capital LLC increased its holdings in shares of Ceragon Networks by 95.1% in the 3rd quarter. Walleye Capital LLC now owns 283,933 shares of the communications equipment provider’s stock worth $778,000 after purchasing an additional 138,411 shares in the last quarter. Inspire Investing LLC bought a new stake in Ceragon Networks in the 4th quarter worth about $903,000. JPMorgan Chase & Co. purchased a new position in Ceragon Networks in the 3rd quarter worth about $104,000. Perigon Wealth Management LLC bought a new position in Ceragon Networks during the 4th quarter valued at about $90,000. Finally, Navellier & Associates Inc. purchased a new stake in shares of Ceragon Networks during the 4th quarter valued at about $1,804,000. 13.31% of the stock is currently owned by hedge funds and other institutional investors.

Ceragon Networks Company Profile

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.