Ceragon Networks Ltd. (NASDAQ:CRNT) Receives Consensus Rating of “Hold” from Analysts

Ceragon Networks Ltd. (NASDAQ:CRNT) has earned a consensus rating of “Hold” from the six research firms that are currently covering the company, Marketbeat reports. Two analysts have rated the stock with a sell recommendation and four have issued a buy recommendation on the company. The average 1 year target price among brokers that have covered the stock in the last year is $3.75.

Several brokerages have weighed in on CRNT. Roth Capital reaffirmed a “buy” rating and set a $4.50 price target on shares of Ceragon Networks in a research report on Tuesday, May 19th. Zacks Research cut Ceragon Networks from a “hold” rating to a “strong sell” rating in a report on Thursday, July 16th. Wall Street Zen upgraded Ceragon Networks from a “hold” rating to a “strong-buy” rating in a research note on Saturday, May 23rd. Weiss Ratings raised Ceragon Networks from a “sell (d)” rating to a “sell (d+)” rating in a report on Tuesday, May 26th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $3.00 price target on shares of Ceragon Networks in a research report on Wednesday, May 20th.

Hedge Funds Weigh In On Ceragon Networks

Several institutional investors have recently made changes to their positions in CRNT. BNP Paribas Financial Markets acquired a new position in shares of Ceragon Networks in the 2nd quarter valued at $26,000. Walleye Capital LLC acquired a new stake in Ceragon Networks during the fourth quarter valued at $27,000. Tamar Securities LLC grew its position in Ceragon Networks by 67.3% during the fourth quarter. Tamar Securities LLC now owns 17,016 shares of the communications equipment provider’s stock valued at $36,000 after buying an additional 6,848 shares during the period. HRT Financial LP increased its holdings in Ceragon Networks by 44.3% in the fourth quarter. HRT Financial LP now owns 19,660 shares of the communications equipment provider’s stock valued at $41,000 after buying an additional 6,039 shares in the last quarter. Finally, Verition Fund Management LLC purchased a new position in Ceragon Networks in the fourth quarter valued at $64,000. 13.31% of the stock is owned by hedge funds and other institutional investors.

Ceragon Networks Price Performance

CRNT stock opened at $2.17 on Monday. The company has a market capitalization of $197.24 million, a P/E ratio of -108.50 and a beta of 1.36. Ceragon Networks has a 12 month low of $1.82 and a 12 month high of $3.29. The firm’s fifty day simple moving average is $2.55 and its 200-day simple moving average is $2.42.

Ceragon Networks (NASDAQ:CRNT) last issued its earnings results on Wednesday, April 15th. The communications equipment provider reported $0.01 earnings per share (EPS) for the quarter. The firm had revenue of $85.00 million during the quarter. Ceragon Networks had a negative net margin of 0.73% and a positive return on equity of 2.27%. As a group, sell-side analysts forecast that Ceragon Networks will post 0.12 earnings per share for the current year.

Ceragon Networks Company Profile

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.