Ceragon Networks (NASDAQ:CRNT) was upgraded by investment analysts at ValuEngine from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday.

Several other research analysts have also commented on CRNT. Zacks Investment Research lowered shares of Ceragon Networks from a “buy” rating to a “hold” rating in a report on Thursday, August 10th. Oppenheimer restated a “hold” rating on shares of Ceragon Networks in a report on Tuesday, August 8th. Finally, Jefferies Group restated a “hold” rating and issued a $2.50 price target on shares of Ceragon Networks in a report on Sunday, October 8th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $2.50.

Ceragon Networks (CRNT) traded up $0.15 during midday trading on Tuesday, reaching $2.24. 1,678,033 shares of the company traded hands, compared to its average volume of 538,952. Ceragon Networks has a 52-week low of $1.64 and a 52-week high of $4.23. The stock has a market capitalization of $147.11, a price-to-earnings ratio of 9.45 and a beta of 1.07.

Ceragon Networks (NASDAQ:CRNT) last posted its quarterly earnings results on Monday, November 6th. The communications equipment provider reported $0.05 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.05. Ceragon Networks had a net margin of 5.06% and a return on equity of 12.60%. The firm had revenue of $75.99 million for the quarter, compared to analyst estimates of $78.22 million. During the same quarter last year, the firm posted $0.06 earnings per share. Ceragon Networks’s revenue for the quarter was down 4.0% compared to the same quarter last year. equities analysts expect that Ceragon Networks will post 0.18 EPS for the current year.

Several institutional investors and hedge funds have recently bought and sold shares of the company. State Street Corp raised its stake in shares of Ceragon Networks by 1.6% during the second quarter. State Street Corp now owns 76,592 shares of the communications equipment provider’s stock valued at $195,000 after purchasing an additional 1,205 shares during the period. Parametric Portfolio Associates LLC raised its stake in shares of Ceragon Networks by 23.9% during the second quarter. Parametric Portfolio Associates LLC now owns 59,132 shares of the communications equipment provider’s stock valued at $151,000 after purchasing an additional 11,410 shares during the period. Renaissance Group LLC raised its stake in shares of Ceragon Networks by 10.9% during the second quarter. Renaissance Group LLC now owns 121,151 shares of the communications equipment provider’s stock valued at $309,000 after purchasing an additional 11,940 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in shares of Ceragon Networks by 6.2% during the second quarter. Arrowstreet Capital Limited Partnership now owns 406,991 shares of the communications equipment provider’s stock valued at $1,038,000 after purchasing an additional 23,616 shares during the period. Finally, State of New Jersey Common Pension Fund D raised its stake in shares of Ceragon Networks by 64.6% during the second quarter. State of New Jersey Common Pension Fund D now owns 60,871 shares of the communications equipment provider’s stock valued at $155,000 after purchasing an additional 23,880 shares during the period. Institutional investors own 16.11% of the company’s stock.

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Ceragon Networks Company Profile

Ceragon Networks Ltd. offers wireless backhaul solutions. The Company’s products include FibeAir IP-20 Platform, FibeAir IP-20 Assured Platform and Network Management. The Company provides its services to wireless service providers, public safety organizations, government agencies and utility companies, among others.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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