Ceragon Networks Ltd. (NASDAQ:CRNT) Stock Has Average Target Price of $3.75

Ceragon Networks Ltd. (NASDAQ:CRNT) has received a consensus rating of “Moderate Buy” from the six research firms that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $3.75.

CRNT has been the subject of several research analyst reports. Weiss Ratings lowered Ceragon Networks from a “sell (d+)” rating to a “sell (d)” rating in a research report on Wednesday, August 19th. Wall Street Zen downgraded shares of Ceragon Networks from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 15th. Needham & Company LLC restated a “buy” rating and set a $3.00 price target on shares of Ceragon Networks in a research report on Tuesday, August 11th. Finally, Zacks Research upgraded shares of Ceragon Networks from a “strong sell” rating to a “hold” rating in a report on Thursday, August 27th.

Ceragon Networks Stock Down 2.7%

Ceragon Networks stock opened at $2.13 on Tuesday. Ceragon Networks has a 52 week low of $1.85 and a 52 week high of $3.29. The company’s 50 day moving average price is $2.13 and its two-hundred day moving average price is $2.37. The stock has a market cap of $193.60 million, a P/E ratio of -71.00 and a beta of 1.36.

Ceragon Networks (NASDAQ:CRNT) last released its earnings results on Tuesday, August 11th. The communications equipment provider reported $0.02 earnings per share (EPS) for the quarter. The company had revenue of $93.91 million during the quarter, compared to analyst estimates of $86.45 million. Ceragon Networks had a positive return on equity of 2.74% and a negative net margin of 0.95%. On average, equities analysts anticipate that Ceragon Networks will post 0.1 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Aristides Capital LLC grew its stake in Ceragon Networks by 4.5% during the fourth quarter. Aristides Capital LLC now owns 141,130 shares of the communications equipment provider’s stock valued at $296,000 after acquiring an additional 6,130 shares in the last quarter. Tamar Securities LLC increased its holdings 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 during the period. Spark Investment Management LLC purchased a new stake in Ceragon Networks in the 2nd quarter worth approximately $27,000. AXQ Capital LP lifted its stake in Ceragon Networks by 66.3% in the 2nd quarter. AXQ Capital LP now owns 48,663 shares of the communications equipment provider’s stock worth $126,000 after purchasing an additional 19,404 shares in the last quarter. Finally, R Squared Ltd boosted its holdings in Ceragon Networks by 71.3% in the 1st quarter. R Squared Ltd now owns 55,838 shares of the communications equipment provider’s stock valued at $121,000 after purchasing an additional 23,234 shares during the period. 13.31% of the stock is owned by institutional investors.

About Ceragon Networks

Ceragon Networks Ltd. is a telecommunications equipment and solutions provider headquartered in Israel. The company develops wireless transport systems that enable communications service providers and other organizations to connect mobile and fixed networks, particularly where fiber infrastructure is unavailable, costly, or difficult to deploy.

Its portfolio includes microwave and millimeter-wave radio systems, packet-based networking equipment, and related software and services. Ceragon’s solutions support mobile backhaul, midhaul and fronthaul for 4G and 5G networks, as well as fixed wireless access, private networks, enterprise connectivity, public safety, utilities, and government communications.