Ceragon Networks Ltd. (NASDAQ:CRNT) Receives Consensus Rating of “Moderate Buy” from Analysts

Ceragon Networks Ltd. (NASDAQ:CRNT) has been assigned an average rating of “Moderate Buy” from the six analysts that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. The average 12-month price target 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 recent analyst reports. Roth Mkm restated a “buy” rating and issued a $4.50 target price on shares of Ceragon Networks in a report on Tuesday, May 19th. Weiss Ratings upgraded shares of Ceragon Networks from a “sell (d)” rating to a “sell (d+)” rating in a report on Tuesday, May 26th. Zacks Research upgraded shares of Ceragon Networks from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 21st. Wall Street Zen upgraded shares of Ceragon Networks from a “hold” rating to a “strong-buy” rating in a report on Saturday, May 23rd. Finally, Craig Hallum restated a “buy” rating and issued a $4.00 price target on shares of Ceragon Networks in a report on Wednesday, May 20th.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. BNP Paribas Financial Markets purchased a new position in Ceragon Networks in the second quarter valued at approximately $26,000. Jones Financial Companies Lllp raised its holdings in Ceragon Networks by 283.3% in the third 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 period. Walleye Capital LLC purchased a new stake in shares of Ceragon Networks during the 4th quarter valued at about $27,000. Tamar Securities LLC lifted its position in Ceragon Networks by 67.3% during the 4th quarter. Tamar Securities LLC now owns 17,016 shares of the communications equipment provider’s stock worth $36,000 after acquiring an additional 6,848 shares in the last quarter. Finally, HRT Financial LP boosted its holdings in Ceragon Networks by 44.3% in the 4th quarter. HRT Financial LP now owns 19,660 shares of the communications equipment provider’s stock worth $41,000 after acquiring an additional 6,039 shares during the period. Hedge funds and other institutional investors own 13.31% of the company’s stock.

Ceragon Networks Stock Performance

Ceragon Networks stock opened at $2.99 on Friday. Ceragon Networks has a 1 year low of $1.82 and a 1 year high of $3.29. The firm has a 50 day moving average price of $2.62 and a 200 day moving average price of $2.34. The company has a market cap of $271.76 million, a price-to-earnings ratio of -149.50 and a beta of 1.35.

Ceragon Networks (NASDAQ:CRNT) last released its earnings results 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 firm had revenue of $85.00 million during 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.