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

Ceragon Networks Ltd. (NASDAQ:CRNT) has received an average recommendation of “Moderate Buy” from the six analysts that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and four have given a buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $3.75.

CRNT has been the topic of several recent research reports. Lake Street Capital began coverage on shares of Ceragon Networks in a research report on Tuesday, March 31st. They issued a “buy” rating and a $3.50 price target on the stock. Zacks Research upgraded Ceragon Networks from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 21st. Roth Capital reaffirmed a “buy” rating and issued a $4.50 target price on shares of Ceragon Networks in a report on Tuesday, May 19th. Wall Street Zen upgraded Ceragon Networks from a “hold” rating to a “strong-buy” rating in a research report on Saturday, May 23rd. Finally, Weiss Ratings raised Ceragon Networks from a “sell (d)” rating to a “sell (d+)” rating in a report on Tuesday, May 26th.

Ceragon Networks Stock Performance

CRNT stock opened at $2.32 on Thursday. The company has a market cap of $210.87 million, a price-to-earnings ratio of -116.00 and a beta of 1.36. The business’s 50-day moving average is $2.64 and its two-hundred day moving average is $2.42. Ceragon Networks has a fifty-two week low of $1.82 and a fifty-two week high of $3.29.

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. BNP Paribas Financial Markets bought a new stake in Ceragon Networks during the 2nd quarter worth approximately $26,000. Walleye Capital LLC purchased a new stake in shares of Ceragon Networks in the fourth quarter worth $27,000. Tamar Securities LLC increased its stake in shares of Ceragon Networks by 67.3% in the fourth quarter. Tamar Securities LLC now owns 17,016 shares of the communications equipment provider’s stock worth $36,000 after purchasing an additional 6,848 shares in the last quarter. HRT Financial LP raised its position 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 purchasing an additional 6,039 shares during the period. Finally, Verition Fund Management LLC purchased a new position in shares of Ceragon Networks during the 4th quarter valued at $64,000. 13.31% of the stock is currently owned by institutional investors.

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.