Ceragon Networks (NASDAQ:CRNT) Upgraded at Zacks Research

Ceragon Networks (NASDAQ:CRNT) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued on Thursday,Zacks.com reports.

A number of other research analysts also recently issued reports on the company. Needham & Company LLC restated a “buy” rating and set a $3.00 price target on shares of Ceragon Networks in a research note on Tuesday, August 11th. Weiss Ratings lowered shares of Ceragon Networks from a “sell (d+)” rating to a “sell (d)” rating in a research report on Wednesday, August 19th. Wall Street Zen cut shares of Ceragon Networks from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 15th. Craig Hallum reiterated a “buy” rating and issued a $4.00 price target on shares of Ceragon Networks in a research report on Wednesday, May 20th. Finally, Roth Capital reiterated a “buy” rating and set a $4.50 price target on shares of Ceragon Networks in a research note on Tuesday, May 19th. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $3.75.

Ceragon Networks Price Performance

Shares of NASDAQ:CRNT opened at $2.09 on Thursday. The company’s fifty day moving average price is $2.26 and its 200 day moving average price is $2.40. Ceragon Networks has a 12 month low of $1.85 and a 12 month high of $3.29. The firm has a market capitalization of $189.96 million, a P/E ratio of -69.67 and a beta of 1.37.

Ceragon Networks (NASDAQ:CRNT) last released its quarterly earnings data 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 the consensus estimate of $86.45 million. Ceragon Networks had a negative net margin of 0.95% and a positive return on equity of 2.74%. On average, sell-side analysts anticipate that Ceragon Networks will post 0.1 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. BNP Paribas Financial Markets purchased a new position in shares of Ceragon Networks in the 2nd quarter valued at approximately $26,000. Walleye Capital LLC purchased a new stake in shares of Ceragon Networks during the fourth quarter worth approximately $27,000. Tamar Securities LLC raised its stake in shares of Ceragon Networks by 67.3% during the fourth quarter. Tamar Securities LLC now owns 17,016 shares of the communications equipment provider’s stock worth $36,000 after purchasing an additional 6,848 shares during the last quarter. HRT Financial LP lifted its holdings in shares of Ceragon Networks by 44.3% during the fourth quarter. HRT Financial LP now owns 19,660 shares of the communications equipment provider’s stock worth $41,000 after purchasing an additional 6,039 shares during the period. Finally, Verition Fund Management LLC acquired a new stake in shares of Ceragon Networks during the fourth quarter worth $64,000. 13.31% of the stock is currently owned by hedge funds and other institutional investors.

About Ceragon Networks

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.