Ceragon Networks Ltd. (NASDAQ:CRNT) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Ceragon Networks Ltd. (NASDAQ:CRNT) have earned an average rating of “Moderate Buy” from the six analysts that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and four have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $3.75.

A number of equities analysts have recently weighed in on the stock. Roth Mkm reaffirmed a “buy” rating and set a $4.50 price target on shares of Ceragon Networks in a research note on Tuesday, May 19th. Zacks Research raised shares of Ceragon Networks from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 21st. Wall Street Zen raised shares of Ceragon Networks from a “hold” rating to a “strong-buy” rating in a research note on Saturday, May 23rd. Weiss Ratings raised shares of Ceragon Networks from a “sell (d)” rating to a “sell (d+)” rating in a research note on Tuesday, May 26th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $3.00 price target on shares of Ceragon Networks in a research note on Wednesday, May 20th.

Hedge Funds Weigh In On Ceragon Networks

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Renaissance Technologies LLC grew its stake in shares of Ceragon Networks by 13.7% during the 1st quarter. Renaissance Technologies LLC now owns 214,500 shares of the communications equipment provider’s stock worth $463,000 after purchasing an additional 25,800 shares during the period. Aristides Capital LLC boosted its position in shares of Ceragon Networks by 15.5% in the 1st quarter. Aristides Capital LLC now owns 162,963 shares of the communications equipment provider’s stock worth $352,000 after buying an additional 21,833 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Ceragon Networks in the 1st quarter worth about $911,000. First Wilshire Securities Management Inc. boosted its position in shares of Ceragon Networks by 18.0% in the 1st quarter. First Wilshire Securities Management Inc. now owns 4,854,150 shares of the communications equipment provider’s stock worth $10,485,000 after buying an additional 740,358 shares in the last quarter. Finally, R Squared Ltd boosted its position in shares of Ceragon Networks by 71.3% in the 1st quarter. R Squared Ltd now owns 55,838 shares of the communications equipment provider’s stock worth $121,000 after buying an additional 23,234 shares in the last quarter. 13.31% of the stock is owned by institutional investors and hedge funds.

Ceragon Networks Stock Performance

Shares of CRNT opened at $2.70 on Friday. The stock has a market capitalization of $245.40 million, a P/E ratio of -135.00 and a beta of 1.35. The company’s fifty day moving average is $2.67 and its two-hundred day moving average is $2.37. Ceragon Networks has a 1 year low of $1.82 and a 1 year high of $3.29.

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

Ceragon Networks Company Profile

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.