Ceragon Networks Ltd. (NASDAQ:CRNT) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Ceragon Networks Ltd. (NASDAQ:CRNT) have been given a consensus rating of “Moderate Buy” by the six analysts that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $3.75.

CRNT has been the topic of a number of research analyst reports. Wall Street Zen upgraded Ceragon Networks from a “hold” rating to a “strong-buy” rating in a report on Saturday, May 23rd. Roth Mkm restated a “buy” rating and set a $4.50 price target on shares of Ceragon Networks in a report on Tuesday, May 19th. Craig Hallum restated a “buy” rating and set a $4.00 price target on shares of Ceragon Networks in a report on Wednesday, May 20th. Weiss Ratings upgraded Ceragon Networks from a “sell (d)” rating to a “sell (d+)” rating in a report on Tuesday, May 26th. Finally, Lake Street Capital initiated coverage on Ceragon Networks in a report on Tuesday, March 31st. They set a “buy” rating and a $3.50 target price on the stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. BNP Paribas Financial Markets purchased a new position in shares of Ceragon Networks during the 2nd quarter worth approximately $26,000. Jones Financial Companies Lllp grew its holdings in shares of Ceragon Networks by 283.3% during the 3rd quarter. Jones Financial Companies Lllp now owns 11,500 shares of the communications equipment provider’s stock worth $27,000 after acquiring an additional 8,500 shares during the period. Walleye Capital LLC purchased a new position in shares of Ceragon Networks during the 4th quarter worth approximately $27,000. Tamar Securities LLC grew its holdings in shares of Ceragon Networks by 67.3% during the 4th quarter. Tamar Securities LLC now owns 17,016 shares of the communications equipment provider’s stock worth $36,000 after acquiring an additional 6,848 shares during the period. Finally, HRT Financial LP grew its holdings in shares of Ceragon Networks by 44.3% during the 4th quarter. HRT Financial LP now owns 19,660 shares of the communications equipment provider’s stock worth $41,000 after acquiring an additional 6,039 shares during the period. Hedge funds and other institutional investors own 13.31% of the company’s stock.

Ceragon Networks Price Performance

Shares of NASDAQ:CRNT opened at $2.99 on Friday. Ceragon Networks has a 1 year low of $1.82 and a 1 year high of $3.29. The company has a market cap of $271.76 million, a PE ratio of -149.50 and a beta of 1.35. The stock’s 50-day moving average is $2.62 and its 200 day moving average is $2.34.

Ceragon Networks (NASDAQ:CRNT) last announced its quarterly earnings results on Wednesday, April 15th. The communications equipment provider reported $0.01 earnings per share (EPS) for the quarter. Ceragon Networks had a positive return on equity of 2.27% and a negative net margin of 0.73%.The company had revenue of $85.00 million for the quarter. Analysts expect that Ceragon Networks will post 0.12 EPS for the current fiscal year.

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.