Ceragon Networks Ltd. (NASDAQ:CRNT) Receives Average Rating of “Hold” from Analysts

Shares of Ceragon Networks Ltd. (NASDAQ:CRNT) have earned an average recommendation of “Hold” from the five research firms that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $3.50.

A number of research firms have recently commented on CRNT. Lake Street Capital initiated coverage on shares of Ceragon Networks in a research note on Tuesday, March 31st. They set a “buy” rating and a $3.50 price objective for the company. Zacks Research lowered Ceragon Networks from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 20th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Ceragon Networks in a research report on Friday, March 27th.

Ceragon Networks Price Performance

NASDAQ CRNT opened at $2.19 on Tuesday. Ceragon Networks has a 12-month low of $1.82 and a 12-month high of $2.84. The company has a market capitalization of $194.76 million, a PE ratio of -109.50 and a beta of 1.24. The firm’s 50 day moving average is $2.26 and its 200-day moving average is $2.26.

Ceragon Networks (NASDAQ:CRNT) last announced its earnings results on Tuesday, February 17th. The communications equipment provider reported $0.02 EPS for the quarter, missing the consensus estimate of $0.03 by ($0.01). Ceragon Networks had a positive return on equity of 3.52% and a negative net margin of 0.62%.The business had revenue of $82.33 million for the quarter, compared to analyst estimates of $84.23 million. As a group, sell-side analysts expect that Ceragon Networks will post 0.26 EPS for the current year.

Institutional Investors Weigh In On Ceragon Networks

Several large investors have recently made changes to their positions in the stock. CSM Advisors LLC acquired a new position in Ceragon Networks during the third quarter worth $4,819,000. Squarepoint Ops LLC lifted its stake in Ceragon Networks by 642.7% in the second quarter. Squarepoint Ops LLC now owns 552,939 shares of the communications equipment provider’s stock valued at $1,360,000 after acquiring an additional 478,489 shares during the last quarter. First Wilshire Securities Management Inc. lifted its stake in Ceragon Networks by 23.6% in the second quarter. First Wilshire Securities Management Inc. now owns 4,058,774 shares of the communications equipment provider’s stock valued at $9,985,000 after acquiring an additional 775,782 shares during the last quarter. Essex Investment Management Co. LLC grew its position in shares of Ceragon Networks by 36.9% in the 3rd quarter. Essex Investment Management Co. LLC now owns 1,418,197 shares of the communications equipment provider’s stock valued at $3,304,000 after acquiring an additional 382,058 shares during the period. Finally, Aristides Capital LLC grew its position in shares of Ceragon Networks by 4.5% in the 4th quarter. Aristides Capital LLC now owns 141,130 shares of the communications equipment provider’s stock valued at $296,000 after acquiring an additional 6,130 shares during the period. Institutional investors and hedge funds 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.