Ceragon Networks (CRNT) Rating Increased to Buy at ValuEngine
Ceragon Networks (NASDAQ:CRNT) was upgraded by stock analysts at ValuEngine from a “hold” rating to a “buy” rating in a research note issued on Tuesday.
CRNT has been the subject of a number of other reports. Zacks Investment Research downgraded shares of Ceragon Networks from a “hold” rating to a “sell” rating in a report on Wednesday, November 8th. Jefferies Group reiterated a “hold” rating and set a $2.50 target price on shares of Ceragon Networks in a research report on Sunday, October 8th. Finally, Oppenheimer reiterated a “hold” rating on shares of Ceragon Networks in a research report on Tuesday, August 8th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $2.50.
Ceragon Networks (NASDAQ:CRNT) opened at $2.17 on Tuesday. The company has a market cap of $174.36, a PE ratio of 11.20 and a beta of 1.07. Ceragon Networks has a 1-year low of $1.64 and a 1-year high of $4.23.
A number of institutional investors and hedge funds have recently bought and sold shares of CRNT. Macquarie Group Ltd. acquired a new stake in Ceragon Networks in the 3rd quarter valued at about $743,000. Algert Global LLC grew its position in shares of Ceragon Networks by 101.1% during the 2nd quarter. Algert Global LLC now owns 516,319 shares of the communications equipment provider’s stock worth $1,317,000 after buying an additional 259,530 shares during the period. BT Investment Management Ltd acquired a new stake in shares of Ceragon Networks during the 2nd quarter worth approximately $506,000. Zweig DiMenna Associates LLC grew its position in shares of Ceragon Networks by 46.6% during the 2nd quarter. Zweig DiMenna Associates LLC now owns 534,965 shares of the communications equipment provider’s stock worth $1,364,000 after buying an additional 169,965 shares during the period. Finally, Menta Capital LLC acquired a new stake in shares of Ceragon Networks during the 2nd quarter worth approximately $408,000. Hedge funds and other institutional investors own 16.11% of the company’s stock.
Ceragon Networks Company Profile
Ceragon Networks Ltd. offers wireless backhaul solutions. The Company’s products include FibeAir IP-20 Platform, FibeAir IP-20 Assured Platform and Network Management. The Company provides its services to wireless service providers, public safety organizations, government agencies and utility companies, among others.
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