Ceragon Networks Ltd (CRNT) Given Average Recommendation of “Hold” by Brokerages
Shares of Ceragon Networks Ltd (NASDAQ:CRNT) have received an average rating of “Hold” from the six brokerages that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $2.50.
Several equities research analysts have recently commented on CRNT shares. Zacks Investment Research lowered shares of Ceragon Networks from a “hold” rating to a “sell” rating in a report on Wednesday, November 8th. ValuEngine upgraded shares of Ceragon Networks from a “hold” rating to a “buy” rating in a report on Tuesday, December 5th. 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.
Shares of Ceragon Networks (NASDAQ:CRNT) opened at $2.02 on Thursday. Ceragon Networks has a twelve month low of $1.64 and a twelve month high of $4.23. The company has a market cap of $157.43, a PE ratio of 9.62 and a beta of 1.05.
Several hedge funds and other institutional investors have recently bought and sold shares of CRNT. Parametric Portfolio Associates LLC raised its stake in shares of Ceragon Networks by 23.9% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 59,132 shares of the communications equipment provider’s stock worth $151,000 after acquiring an additional 11,410 shares in the last quarter. State Street Corp raised its stake in shares of Ceragon Networks by 1.6% during the 2nd quarter. State Street Corp now owns 76,592 shares of the communications equipment provider’s stock worth $195,000 after acquiring an additional 1,205 shares in the last quarter. Menta Capital LLC bought a new position in shares of Ceragon Networks during the 2nd quarter worth approximately $408,000. BT Investment Management Ltd bought a new position in shares of Ceragon Networks during the 2nd quarter worth approximately $506,000. Finally, Macquarie Group Ltd. bought a new position in shares of Ceragon Networks during the 3rd quarter worth approximately $743,000. Hedge funds and other institutional investors own 16.09% 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.
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