Ceragon Networks (NASDAQ:CRNT) Upgraded to “Buy” at ValuEngine
CRNT has been the topic of several other reports. Oppenheimer cut Ceragon Networks from an outperform rating to a market perform rating in a report on Tuesday, November 5th. Zacks Investment Research downgraded Ceragon Networks from a hold rating to a sell rating in a research note on Wednesday, November 6th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus price target of $3.50.
NASDAQ CRNT opened at $1.84 on Tuesday. The company has a market cap of $157.25 million, a price-to-earnings ratio of 9.20, a price-to-earnings-growth ratio of 2.18 and a beta of 1.28. Ceragon Networks has a twelve month low of $1.70 and a twelve month high of $5.04. The business’s fifty day moving average is $2.30 and its 200 day moving average is $2.60.
Hedge funds have recently added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. acquired a new position in shares of Ceragon Networks during the second quarter worth $33,000. Bluestein R H & Co. bought a new position in Ceragon Networks during the 2nd quarter worth $70,000. Atria Investments LLC raised its position in Ceragon Networks by 62.4% during the 2nd quarter. Atria Investments LLC now owns 25,039 shares of the communications equipment provider’s stock worth $59,000 after purchasing an additional 9,624 shares during the last quarter. California Public Employees Retirement System raised its position in Ceragon Networks by 7.6% during the 3rd quarter. California Public Employees Retirement System now owns 60,934 shares of the communications equipment provider’s stock worth $164,000 after purchasing an additional 4,281 shares during the last quarter. Finally, Delek Group Ltd. lifted its holdings in Ceragon Networks by 19.1% during the 2nd quarter. Delek Group Ltd. now owns 62,180 shares of the communications equipment provider’s stock worth $178,000 after buying an additional 9,977 shares during the period. 14.04% of the stock is owned by hedge funds and other institutional investors.
Ceragon Networks Company Profile
Ceragon Networks Ltd. provides wireless backhaul solutions that enable cellular operators and other wireless service providers to deliver voice and data services worldwide. Its wireless backhaul solutions use microwave and millimeter wave technology to transfer telecommunication traffic between base stations, small sells, and the core of the service provider's network.
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