Ceragon Networks (NASDAQ:CRNT) Announces Earnings Results, Misses Estimates By $0.02 EPS

Ceragon Networks (NASDAQ:CRNT) announced its earnings results on Tuesday. The communications equipment provider reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.02), Zacks reports. Ceragon Networks had a return on equity of 13.71% and a net margin of 3.57%. Ceragon Networks updated its FY 2025 guidance to EPS.

Ceragon Networks Stock Down 9.0%

Shares of CRNT stock traded down $0.21 during trading hours on Tuesday, hitting $2.08. 652,879 shares of the company’s stock traded hands, compared to its average volume of 1,147,440. The stock has a market cap of $184.53 million, a PE ratio of 12.97 and a beta of 1.13. The stock’s 50 day simple moving average is $2.34 and its 200 day simple moving average is $2.30. Ceragon Networks has a 12 month low of $1.82 and a 12 month high of $5.73.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Roth Capital reduced their target price on shares of Ceragon Networks from $5.00 to $4.00 and set a “buy” rating for the company in a research report on Friday, July 18th. Zacks Research raised Ceragon Networks from a “strong sell” rating to a “hold” rating in a report on Monday, October 6th. Needham & Company LLC reaffirmed a “buy” rating and issued a $3.00 price target on shares of Ceragon Networks in a research note on Thursday, September 18th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Ceragon Networks in a research note on Wednesday, October 8th. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Ceragon Networks has a consensus rating of “Moderate Buy” and an average price target of $5.50.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. BNP Paribas Financial Markets acquired a new stake in shares of Ceragon Networks in the second quarter valued at about $26,000. Evergreen Capital Management LLC bought a new stake in Ceragon Networks in the second quarter valued at approximately $187,000. NewEdge Advisors LLC increased its position in Ceragon Networks by 132.2% during the 1st quarter. NewEdge Advisors LLC now owns 106,255 shares of the communications equipment provider’s stock valued at $250,000 after purchasing an additional 60,498 shares during the period. Boothbay Fund Management LLC raised its holdings in Ceragon Networks by 85.6% during the 2nd quarter. Boothbay Fund Management LLC now owns 134,364 shares of the communications equipment provider’s stock worth $331,000 after purchasing an additional 61,976 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in Ceragon Networks by 26.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 234,701 shares of the communications equipment provider’s stock worth $547,000 after purchasing an additional 49,549 shares during the last quarter. 13.31% of the stock is owned by institutional investors and hedge funds.

About Ceragon Networks

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.