Needham & Company LLC Has Lowered Expectations for Ceragon Networks (NASDAQ:CRNT) Stock Price

Ceragon Networks (NASDAQ:CRNT) had its price objective reduced by Needham & Company LLC from $6.00 to $4.50 in a research note released on Wednesday,Benzinga reports. They currently have a buy rating on the communications equipment provider’s stock.

Several other brokerages have also issued reports on CRNT. Craig Hallum began coverage on Ceragon Networks in a report on Thursday, March 13th. They set a “buy” rating and a $5.00 price objective for the company. StockNews.com raised Ceragon Networks from a “hold” rating to a “buy” rating in a research note on Wednesday, April 9th. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Ceragon Networks presently has a consensus rating of “Buy” and an average target price of $6.00.

Ceragon Networks Trading Down 1.4 %

Shares of NASDAQ CRNT opened at $2.17 on Wednesday. Ceragon Networks has a one year low of $1.95 and a one year high of $5.73. The business has a 50-day moving average price of $2.30 and a two-hundred day moving average price of $3.37. The firm has a market capitalization of $192.98 million, a PE ratio of 8.04 and a beta of 1.04.

Ceragon Networks (NASDAQ:CRNT) last announced its quarterly earnings data on Wednesday, May 7th. The communications equipment provider reported $0.02 EPS for the quarter, meeting analysts’ consensus estimates of $0.02. Ceragon Networks had a net margin of 6.10% and a return on equity of 21.32%. Research analysts anticipate that Ceragon Networks will post 0.26 EPS for the current year.

Institutional Investors Weigh In On Ceragon Networks

A number of large investors have recently bought and sold shares of the business. Hillsdale Investment Management Inc. lifted its holdings in Ceragon Networks by 3.9% in the 4th quarter. Hillsdale Investment Management Inc. now owns 80,800 shares of the communications equipment provider’s stock worth $377,000 after purchasing an additional 3,000 shares during the last quarter. Algert Global LLC raised its position in shares of Ceragon Networks by 32.2% in the fourth quarter. Algert Global LLC now owns 46,454 shares of the communications equipment provider’s stock valued at $217,000 after purchasing an additional 11,310 shares during the period. Penn Capital Management Company LLC acquired a new stake in shares of Ceragon Networks in the fourth quarter worth $54,000. Commonwealth Equity Services LLC bought a new stake in shares of Ceragon Networks during the 4th quarter worth $58,000. Finally, Sei Investments Co. boosted its holdings in shares of Ceragon Networks by 21.6% during the 4th quarter. Sei Investments Co. now owns 78,180 shares of the communications equipment provider’s stock worth $365,000 after buying an additional 13,909 shares during the period. 13.31% of the stock is currently owned by institutional investors.

About Ceragon Networks

Ceragon Networks Ltd., together with its subsidiaries, provides wireless transport solutions for cellular operators and other wireless service providers in North America, Europe, Africa, the Asia Pacific, the Middle East, India, and Latin America. The company's solutions use microwave and millimeter wave radio technology to transfer telecommunication traffic between base stations, small/distributed cells, and the service provider's network.