Analysts Set Ceragon Networks Ltd. (NASDAQ:CRNT) Target Price at $3.75

Ceragon Networks Ltd. (NASDAQ:CRNT) has earned a consensus rating of “Moderate Buy” from the six analysts that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $3.75.

CRNT has been the subject of a number of research reports. Zacks Research upgraded Ceragon Networks from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 21st. Craig Hallum restated a “buy” rating and set a $4.00 price objective on shares of Ceragon Networks in a research report on Wednesday, May 20th. Lake Street Capital initiated coverage on Ceragon Networks in a research report on Tuesday, March 31st. They set a “buy” rating and a $3.50 price objective for the company. Weiss Ratings upgraded Ceragon Networks from a “sell (d)” rating to a “sell (d+)” rating in a research report on Tuesday, May 26th. Finally, Wall Street Zen upgraded Ceragon Networks from a “hold” rating to a “strong-buy” rating in a report on Saturday, May 23rd.

Ceragon Networks Stock Performance

Shares of NASDAQ CRNT opened at $2.70 on Friday. Ceragon Networks has a one year low of $1.82 and a one year high of $3.29. The firm has a market capitalization of $245.40 million, a PE ratio of -135.00 and a beta of 1.35. The business has a 50-day moving average price of $2.67 and a two-hundred day moving average price of $2.37.

Ceragon Networks (NASDAQ:CRNT) last announced its quarterly earnings data on Wednesday, April 15th. The communications equipment provider reported $0.01 EPS for the quarter. Ceragon Networks had a positive return on equity of 2.27% and a negative net margin of 0.73%.The firm had revenue of $85.00 million during the quarter. Research analysts anticipate that Ceragon Networks will post 0.12 EPS for the current year.

Institutional Investors Weigh In On Ceragon Networks

Institutional investors have recently made changes to their positions in the company. BNP Paribas Financial Markets acquired a new stake in shares of Ceragon Networks during the 2nd quarter valued at about $26,000. Jones Financial Companies Lllp lifted its holdings in shares of 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 valued at $27,000 after buying an additional 8,500 shares during the last quarter. Walleye Capital LLC acquired a new stake in shares of Ceragon Networks during the 4th quarter valued at about $27,000. Tamar Securities LLC lifted its holdings in shares of Ceragon Networks by 67.3% during the 4th quarter. Tamar Securities LLC now owns 17,016 shares of the communications equipment provider’s stock valued at $36,000 after buying an additional 6,848 shares during the last quarter. Finally, HRT Financial LP lifted its holdings in shares of Ceragon Networks by 44.3% during the 4th quarter. HRT Financial LP now owns 19,660 shares of the communications equipment provider’s stock valued at $41,000 after buying an additional 6,039 shares during the last quarter. 13.31% of the stock is currently owned by institutional investors and hedge funds.

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.