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

Shares of Ceragon Networks Ltd. (NASDAQ:CRNT) have been given a consensus rating of “Hold” by the five ratings firms that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $4.00.

A number of equities research analysts have recently weighed in on the stock. Weiss Ratings restated a “hold (c-)” rating on shares of Ceragon Networks in a research note on Monday, December 29th. Needham & Company LLC reissued a “buy” rating and issued a $3.00 price objective on shares of Ceragon Networks in a research note on Wednesday, November 12th. Finally, Zacks Research cut shares of Ceragon Networks from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 20th.

Ceragon Networks Stock Performance

Shares of CRNT opened at $2.30 on Friday. Ceragon Networks has a 52-week low of $1.82 and a 52-week high of $5.52. The firm has a market cap of $204.54 million, a price-to-earnings ratio of 115.06 and a beta of 1.07. The business’s fifty day moving average is $2.14 and its 200-day moving average is $2.20.

Ceragon Networks (NASDAQ:CRNT) last released its quarterly earnings data on Wednesday, November 12th. The communications equipment provider reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.02). Ceragon Networks had a net margin of 0.38% and a return on equity of 6.67%. The business had revenue of $85.48 million during the quarter, compared to analyst estimates of $83.48 million. As a group, research analysts forecast that Ceragon Networks will post 0.26 EPS for the current fiscal year.

Hedge Funds Weigh In On Ceragon Networks

A number of institutional investors and hedge funds have recently bought and sold shares of CRNT. CSM Advisors LLC acquired a new stake in shares of Ceragon Networks during the third quarter valued at about $4,819,000. Private Advisor Group LLC bought a new position in Ceragon Networks in the 3rd quarter valued at approximately $2,247,000. First Wilshire Securities Management Inc. boosted its position in Ceragon Networks by 23.6% during the 2nd quarter. First Wilshire Securities Management Inc. now owns 4,058,774 shares of the communications equipment provider’s stock worth $9,985,000 after buying an additional 775,782 shares during the period. Squarepoint Ops LLC grew its holdings in Ceragon Networks by 642.7% during the 2nd quarter. Squarepoint Ops LLC now owns 552,939 shares of the communications equipment provider’s stock worth $1,360,000 after acquiring an additional 478,489 shares during the last quarter. Finally, Essex Investment Management Co. LLC grew its holdings in Ceragon Networks by 36.9% during the 3rd quarter. Essex Investment Management Co. LLC now owns 1,418,197 shares of the communications equipment provider’s stock worth $3,304,000 after acquiring an additional 382,058 shares during the last quarter. 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.