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

Shares of Ceragon Networks Ltd. (NASDAQ:CRNT) have been assigned a consensus recommendation of “Moderate Buy” from the six research firms that are covering the stock, Marketbeat 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 1 year target price among brokerages that have issued ratings on the stock in the last year is $5.50.

Several brokerages recently issued reports on CRNT. Roth Capital lowered their price target on Ceragon Networks from $5.00 to $4.00 and set a “buy” rating on the stock in a research note on Friday, July 18th. Needham & Company LLC reaffirmed a “buy” rating and set a $3.00 price objective on shares of Ceragon Networks in a report on Thursday, September 18th. Zacks Research raised Ceragon Networks from a “strong sell” rating to a “hold” rating in a report on Monday, October 6th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Ceragon Networks in a report on Wednesday, October 8th.

Ceragon Networks Stock Up 0.8%

Shares of CRNT opened at $2.55 on Friday. Ceragon Networks has a 12-month low of $1.82 and a 12-month high of $5.73. The firm has a market capitalization of $226.77 million, a price-to-earnings ratio of 15.94 and a beta of 1.15. The stock’s 50-day moving average price is $2.26 and its 200 day moving average price is $2.27.

Institutional Investors Weigh In On Ceragon Networks

A number of institutional investors have recently added to or reduced their stakes in CRNT. Axis Wealth Partners LLC acquired a new stake in Ceragon Networks during the second quarter valued at approximately $26,000. BNP Paribas Financial Markets acquired a new stake in Ceragon Networks during the second quarter valued at approximately $26,000. Bank of Montreal Can acquired a new stake in Ceragon Networks during the second quarter valued at approximately $35,000. Worth Venture Partners LLC acquired a new stake in Ceragon Networks during the first quarter valued at approximately $47,000. Finally, State of Wyoming acquired a new position in shares of Ceragon Networks in the 1st quarter worth approximately $58,000. 13.31% of the stock is owned by institutional investors and hedge funds.

Ceragon Networks Company Profile

Ceragon Networks Ltd., together with its subsidiaries, provides wireless transport solutions for cellular operators and other wireless service providers in North America, Europe, Africa, the Asia Pacific, the Middle East, India, and Latin America. The company's solutions use microwave and millimeter wave radio technology to transfer telecommunication traffic between base stations, small/distributed cells, and the service provider's network.