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

Shares of Ceragon Networks Ltd. (NASDAQ:CRNT) have been given an average rating of “Hold” by the six analysts that are presently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation and four have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $3.75.

A number of equities research analysts recently commented on CRNT shares. Wall Street Zen cut shares of Ceragon Networks from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 15th. Roth Capital restated a “buy” rating and issued a $4.50 target price on shares of Ceragon Networks in a research note on Tuesday, May 19th. Zacks Research downgraded Ceragon Networks from a “hold” rating to a “strong sell” rating in a research note on Thursday, July 16th. Craig Hallum restated a “buy” rating and issued a $4.00 price objective on shares of Ceragon Networks in a research note on Wednesday, May 20th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $3.00 price objective on shares of Ceragon Networks in a report on Tuesday, August 11th.

Ceragon Networks Stock Performance

CRNT opened at $2.14 on Friday. Ceragon Networks has a fifty-two week low of $1.85 and a fifty-two week high of $3.29. The firm has a 50-day moving average of $2.27 and a 200 day moving average of $2.40. The firm has a market cap of $194.50 million, a P/E ratio of -71.33 and a beta of 1.37.

Ceragon Networks (NASDAQ:CRNT) last announced its quarterly earnings data on Tuesday, August 11th. The communications equipment provider reported $0.02 EPS for the quarter. The business had revenue of $93.91 million for the quarter, compared to analyst estimates of $86.45 million. Ceragon Networks had a negative net margin of 0.95% and a positive return on equity of 2.74%. Equities research analysts predict that Ceragon Networks will post 0.1 earnings per share for the current fiscal year.

Institutional Trading of Ceragon Networks

Institutional investors have recently modified their holdings of the business. Private Advisor Group LLC bought a new position in Ceragon Networks in the 3rd quarter worth approximately $2,247,000. First Wilshire Securities Management Inc. raised its holdings in Ceragon Networks by 18.0% during the 1st quarter. First Wilshire Securities Management Inc. now owns 4,854,150 shares of the communications equipment provider’s stock valued at $10,485,000 after acquiring an additional 740,358 shares during the period. Squarepoint Ops LLC raised its holdings in Ceragon Networks by 642.7% during the 2nd quarter. Squarepoint Ops LLC now owns 552,939 shares of the communications equipment provider’s stock valued at $1,360,000 after acquiring an additional 478,489 shares during the period. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Ceragon Networks during the first quarter worth $911,000. Finally, Qube Research & Technologies Ltd boosted its holdings in shares of Ceragon Networks by 100.4% in the second quarter. Qube Research & Technologies Ltd now owns 580,093 shares of the communications equipment provider’s stock worth $1,427,000 after acquiring an additional 290,695 shares during the period. 13.31% of the stock is currently owned by hedge funds and other institutional investors.

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.