Ceragon Networks (CRNT) Given Hold Rating at Oppenheimer

Ceragon Networks (NASDAQ:CRNT)‘s stock had its “hold” rating reiterated by Oppenheimer in a note issued to investors on Monday.

Several other research firms have also recently commented on CRNT. Zacks Investment Research upgraded Ceragon Networks from a “sell” rating to a “hold” rating in a report on Monday, January 8th. ValuEngine upgraded Ceragon Networks from a “hold” rating to a “buy” rating in a report on Tuesday, December 5th. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $2.50.

Shares of Ceragon Networks (CRNT) traded down $0.08 during trading on Monday, reaching $2.09. 468,600 shares of the company’s stock traded hands, compared to its average volume of 411,095. The stock has a market capitalization of $183.93, a price-to-earnings ratio of 9.95 and a beta of 1.00. Ceragon Networks has a one year low of $1.64 and a one year high of $4.23.

Ceragon Networks (NASDAQ:CRNT) last announced its quarterly earnings results on Monday, February 12th. The communications equipment provider reported $0.05 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.01. The company had revenue of $86.70 million for the quarter, compared to analyst estimates of $75.21 million. Ceragon Networks had a net margin of 5.06% and a return on equity of 12.60%. The firm’s revenue was up 2.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.07 earnings per share. equities analysts forecast that Ceragon Networks will post 0.18 EPS for the current year.

Institutional investors and hedge funds have recently bought and sold shares of the business. Parametric Portfolio Associates LLC lifted its stake in shares of Ceragon Networks by 23.9% in the 2nd 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 in the last quarter. State Street Corp lifted its position in 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. Macquarie Group Ltd. acquired a new position in Ceragon Networks during the 3rd quarter worth approximately $743,000. Systematic Financial Management LP lifted its position in Ceragon Networks by 9.5% during the 3rd quarter. Systematic Financial Management LP now owns 489,620 shares of the communications equipment provider’s stock worth $1,018,000 after acquiring an additional 42,275 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its position in Ceragon Networks by 6.2% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 406,991 shares of the communications equipment provider’s stock worth $1,038,000 after acquiring an additional 23,616 shares in the last quarter. Institutional investors own 14.15% of the company’s stock.

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About Ceragon Networks

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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