Ceragon Networks Ltd. (NASDAQ:CRNT) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Ceragon Networks Ltd. (NASDAQ:CRNT) has earned a consensus rating of “Moderate Buy” from the five ratings firms that are presently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $4.00.

Several analysts have weighed in on the company. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Ceragon Networks in a report on Monday, December 29th. Needham & Company LLC reiterated a “buy” rating and issued a $3.00 price objective on shares of Ceragon Networks in a report on Wednesday, November 12th. Finally, Zacks Research upgraded Ceragon Networks from a “strong sell” rating to a “hold” rating in a report on Monday, October 6th.

Ceragon Networks Price Performance

Ceragon Networks stock opened at $2.20 on Wednesday. The stock has a fifty day moving average price of $2.11 and a two-hundred day moving average price of $2.22. Ceragon Networks has a 52-week low of $1.82 and a 52-week high of $5.52. The firm has a market capitalization of $195.65 million, a P/E ratio of 110.06 and a beta of 1.07.

Ceragon Networks (NASDAQ:CRNT) last announced its earnings results on Wednesday, November 12th. The communications equipment provider reported $0.02 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.02). Ceragon Networks had a return on equity of 6.67% and a net margin of 0.38%.The business had revenue of $85.48 million for the quarter, compared to the consensus estimate of $83.48 million. On average, equities research analysts predict that Ceragon Networks will post 0.26 EPS for the current fiscal year.

Hedge Funds Weigh In On Ceragon Networks

Several institutional investors and hedge funds have recently modified their holdings of CRNT. CSM Advisors LLC bought a new position in shares of Ceragon Networks during the third quarter worth about $4,819,000. Private Advisor Group LLC acquired a new position in Ceragon Networks during the 3rd quarter worth approximately $2,247,000. First Wilshire Securities Management Inc. boosted its position in Ceragon Networks by 23.6% during the 2nd quarter. First Wilshire Securities Management Inc. now owns 4,058,774 shares of the communications equipment provider’s stock worth $9,985,000 after acquiring an additional 775,782 shares during the last quarter. Squarepoint Ops LLC grew its stake in shares of Ceragon Networks by 642.7% during the 2nd quarter. Squarepoint Ops LLC now owns 552,939 shares of the communications equipment provider’s stock worth $1,360,000 after acquiring an additional 478,489 shares in the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of Ceragon Networks in the first quarter valued at approximately $983,000. 13.31% of the stock is currently owned by institutional investors and hedge funds.

About Ceragon Networks

Ceragon Networks Ltd. is a global provider of wireless backhaul solutions, specializing in high-capacity, low-latency connectivity for mobile operators and private networks. The company designs and manufactures a portfolio of microwave and millimeter-wave equipment that serves as a fiber alternative for carrying voice, data and video traffic between cell sites and core networks. Ceragon’s solutions are engineered to support the rigorous performance requirements of modern 4G and 5G deployments, with an emphasis on scalability, reliability and efficient spectrum utilization.

The company’s product lineup includes point-to-point and multi-point radio platforms, as well as software-driven network management tools that enable operators to plan, deploy and monitor end-to-end transport networks.