Lake Street Capital Begins Coverage on Ceragon Networks (NASDAQ:CRNT)

Equities research analysts at Lake Street Capital began coverage on shares of Ceragon Networks (NASDAQ:CRNT) in a note issued to investors on Tuesday, MarketBeat reports. The firm set a “buy” rating and a $3.50 price target on the communications equipment provider’s stock. Lake Street Capital’s target price suggests a potential upside of 60.55% from the stock’s previous close.

Other equities research analysts have also issued research reports about the stock. Zacks Research lowered shares of Ceragon Networks from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 20th. Weiss Ratings reissued a “hold (c-)” rating on shares of Ceragon Networks in a report on Friday, March 27th. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $3.50.

Ceragon Networks Price Performance

Ceragon Networks stock opened at $2.18 on Tuesday. The business has a 50 day simple moving average of $2.27 and a 200 day simple moving average of $2.25. The company has a market capitalization of $193.87 million, a PE ratio of -109.00 and a beta of 1.24. Ceragon Networks has a one year low of $1.82 and a one year high of $2.84.

Ceragon Networks (NASDAQ:CRNT) last announced its quarterly earnings results on Tuesday, February 17th. The communications equipment provider reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). The company had revenue of $82.33 million during the quarter, compared to the consensus estimate of $84.23 million. Ceragon Networks had a negative net margin of 0.62% and a positive return on equity of 3.52%. Equities analysts anticipate that Ceragon Networks will post 0.26 earnings per share for the current fiscal year.

Institutional Trading of Ceragon Networks

Several large investors have recently made changes to their positions in CRNT. BNP Paribas Financial Markets acquired a new stake in shares of Ceragon Networks in the second quarter valued at $26,000. Jones Financial Companies Lllp grew its holdings in 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 last quarter. Walleye Capital LLC bought a new stake in Ceragon Networks during the 4th quarter worth about $27,000. Tamar Securities LLC increased its position in Ceragon Networks by 67.3% in the 4th quarter. Tamar Securities LLC now owns 17,016 shares of the communications equipment provider’s stock valued at $36,000 after acquiring an additional 6,848 shares in the last quarter. Finally, HRT Financial LP increased its position in Ceragon Networks by 44.3% in the 4th quarter. HRT Financial LP now owns 19,660 shares of the communications equipment provider’s stock valued at $41,000 after acquiring an additional 6,039 shares in the last quarter. Institutional investors own 13.31% of the company’s stock.

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.