Ceragon Networks Ltd. (NASDAQ:CRNT) Receives $3.50 Consensus Target Price from Brokerages

Shares of Ceragon Networks Ltd. (NASDAQ:CRNT) have been assigned an average recommendation of “Hold” from the five analysts that are covering the company, Marketbeat.com reports. One equities research 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 1 year price target among analysts that have updated their coverage on the stock in the last year is $3.50.

A number of research analysts have weighed in on CRNT shares. Lake Street Capital began coverage on Ceragon Networks in a report on Tuesday, March 31st. They issued a “buy” rating and a $3.50 target price 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. Finally, Weiss Ratings cut shares of Ceragon Networks from a “hold (c-)” rating to a “sell (d)” rating in a research note on Monday, April 20th.

Ceragon Networks Trading Down 0.4%

NASDAQ:CRNT opened at $2.50 on Friday. The company has a market cap of $220.98 million, a PE ratio of -125.00 and a beta of 1.32. The company has a 50 day simple moving average of $2.32 and a two-hundred day simple moving average of $2.26. Ceragon Networks has a 12 month low of $1.82 and a 12 month high of $2.84.

Ceragon Networks (NASDAQ:CRNT) last released its quarterly earnings results on Tuesday, February 17th. The communications equipment provider reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.01). Ceragon Networks had a negative net margin of 0.62% and a positive return on equity of 3.52%. The firm had revenue of $82.33 million for the quarter, compared to the consensus estimate of $84.23 million. Research analysts forecast that Ceragon Networks will post 0.15 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets bought a new position in shares of Ceragon Networks during the 2nd quarter valued at approximately $26,000. Jones Financial Companies Lllp increased its holdings in Ceragon Networks by 283.3% in the 3rd quarter. Jones Financial Companies Lllp now owns 11,500 shares of the communications equipment provider’s stock worth $27,000 after acquiring an additional 8,500 shares in the last quarter. Walleye Capital LLC bought a new stake in Ceragon Networks during the 4th quarter worth approximately $27,000. Tamar Securities LLC raised its stake 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. Finally, HRT Financial LP lifted its holdings in Ceragon Networks by 44.3% during the fourth 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 in the last quarter. Institutional investors own 13.31% of the company’s stock.

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.