Ceragon Networks Ltd. (NASDAQ:CRNT) had its target price hoisted by investment analysts at Jefferies Group to $2.50 in a research report issued on Tuesday. Jefferies Group’s target price points to a potential downside of 1.57% from the company’s current price.

Several other equities analysts have also recently issued reports on CRNT. Needham & Company LLC lifted their price objective on shares of Ceragon Networks from $2.00 to $2.50 and gave the stock a “buy” rating in a research note on Monday, July 18th. Zacks Investment Research cut shares of Ceragon Networks from a “buy” rating to a “hold” rating in a research note on Tuesday, July 26th. Finally, TheStreet raised shares of Ceragon Networks from a “sell” rating to a “hold” rating in a research note on Monday, August 8th.

Shares of Ceragon Networks (NASDAQ:CRNT) opened at 2.54 on Tuesday. Ceragon Networks has a 52-week low of $0.89 and a 52-week high of $2.94. The stock has a 50 day moving average of $2.37 and a 200 day moving average of $2.08. The firm has a market cap of $197.29 million, a price-to-earnings ratio of 33.87 and a beta of 1.26.

Ceragon Networks (NASDAQ:CRNT) last announced its quarterly earnings data on Monday, November 14th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.02. The company had revenue of $79.13 million for the quarter, compared to analysts’ expectations of $77.57 million. Ceragon Networks had a net margin of 2.46% and a return on equity of 5.78%. The business’s revenue was down 7.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.05 EPS. Equities analysts predict that Ceragon Networks will post $0.14 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Panagora Asset Management Inc. purchased a new position in shares of Ceragon Networks during the third quarter valued at approximately $207,000. KCG Holdings Inc. boosted its stake in Ceragon Networks by 132.6% in the third quarter. KCG Holdings Inc. now owns 155,199 shares of the company’s stock valued at $366,000 after buying an additional 88,483 shares in the last quarter. Brandes Investment Partners LP bought a new stake in Ceragon Networks during the third quarter valued at approximately $126,000. Morgan Stanley boosted its stake in Ceragon Networks by 59.0% in the third quarter. Morgan Stanley now owns 309,796 shares of the company’s stock valued at $731,000 after buying an additional 114,991 shares in the last quarter. Finally, Emerald Acquisition Ltd. bought a new stake in Ceragon Networks during the third quarter valued at approximately $150,000. Institutional investors own 14.80% of the company’s stock.

Ceragon Networks Company Profile

Ceragon Networks Ltd. is a provider of wireless backhaul solutions. The Company’s solutions enable cellular operators and other wireless service providers to deliver voice and data services, enabling smart-phone applications, such as Internet browsing, social networking applications, image sharing, music and video applications.

5 Day Chart for NASDAQ:CRNT

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