Ceragon Networks (NASDAQ:CRNT) Stock Rating Reaffirmed by Needham & Company LLC

Ceragon Networks (NASDAQ:CRNTGet Free Report)‘s stock had its “buy” rating restated by investment analysts at Needham & Company LLC in a report released on Wednesday, Benzinga reports. They currently have a $5.25 target price on the communications equipment provider’s stock. Needham & Company LLC’s price objective suggests a potential upside of 82.29% from the stock’s previous close.

Other research analysts have also recently issued research reports about the company. TheStreet upgraded Ceragon Networks from a “d+” rating to a “c-” rating in a research report on Tuesday, November 28th. StockNews.com upgraded Ceragon Networks from a “buy” rating to a “strong-buy” rating in a research report on Friday, January 19th.

Read Our Latest Analysis on Ceragon Networks

Ceragon Networks Price Performance

CRNT stock opened at $2.88 on Wednesday. The stock has a market capitalization of $242.93 million, a price-to-earnings ratio of 41.15 and a beta of 1.42. The business’s fifty day moving average price is $2.43 and its two-hundred day moving average price is $2.05. Ceragon Networks has a fifty-two week low of $1.55 and a fifty-two week high of $3.03.

Ceragon Networks (NASDAQ:CRNTGet Free Report) last posted its quarterly earnings data on Tuesday, February 20th. The communications equipment provider reported $0.03 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.01. Ceragon Networks had a return on equity of 10.09% and a net margin of 1.79%. The firm had revenue of $90.36 million for the quarter. During the same quarter in the previous year, the business earned ($0.01) EPS. Research analysts expect that Ceragon Networks will post 0.18 EPS for the current year.

Institutional Trading of Ceragon Networks

Large investors have recently bought and sold shares of the business. Essex Investment Management Co. LLC boosted its stake in Ceragon Networks by 33.4% in the third quarter. Essex Investment Management Co. LLC now owns 1,137,973 shares of the communications equipment provider’s stock valued at $2,333,000 after buying an additional 284,960 shares in the last quarter. First Eagle Investment Management LLC boosted its stake in shares of Ceragon Networks by 33.0% during the third quarter. First Eagle Investment Management LLC now owns 677,251 shares of the communications equipment provider’s stock valued at $1,388,000 after purchasing an additional 168,036 shares in the last quarter. Legato Capital Management LLC boosted its stake in shares of Ceragon Networks by 30.5% during the third quarter. Legato Capital Management LLC now owns 428,979 shares of the communications equipment provider’s stock valued at $879,000 after purchasing an additional 100,190 shares in the last quarter. Susquehanna International Group LLP acquired a new stake in shares of Ceragon Networks during the first quarter valued at about $25,000. Finally, Verition Fund Management LLC acquired a new stake in shares of Ceragon Networks during the fourth quarter valued at about $25,000. 13.77% of the stock is owned by institutional investors and hedge funds.

About Ceragon Networks

(Get Free Report)

Ceragon Networks Ltd. provides wireless transport solutions for cellular operators and other wireless service providers. Its solutions use microwave and millimeter wave radio technology to transfer telecommunication traffic between base stations, small/distributed cells, and service provider's network.

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