Ceragon Networks (NASDAQ:CRNT) Coverage Initiated by Analysts at Lake Street Capital

Investment analysts at Lake Street Capital started coverage on shares of Ceragon Networks (NASDAQ:CRNT) in a research note issued on Tuesday. The brokerage set a “buy” rating and a $3.50 price target on the communications equipment provider’s stock. Lake Street Capital’s target price indicates a potential upside of 74.13% from the company’s previous close.

Several other research firms also recently commented on CRNT. Zacks Research downgraded shares of Ceragon Networks from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 20th. Weiss Ratings reissued a “hold (c-)” rating on shares of Ceragon Networks in a report on Friday. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $3.50.

Ceragon Networks Stock Performance

Shares of CRNT opened at $2.01 on Tuesday. Ceragon Networks has a fifty-two week low of $1.82 and a fifty-two week high of $2.84. The business has a 50-day moving average of $2.28 and a 200 day moving average of $2.25. The firm has a market cap of $178.75 million, a P/E ratio of -100.50 and a beta of 1.20.

Ceragon Networks (NASDAQ:CRNT) last issued its earnings results on Tuesday, February 17th. The communications equipment provider reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). The business had revenue of $82.33 million for the quarter, compared to the consensus estimate of $84.23 million. Ceragon Networks had a positive return on equity of 3.52% and a negative net margin of 0.62%. As a group, research analysts predict that Ceragon Networks will post 0.26 earnings per share for the current fiscal year.

Institutional Trading of Ceragon Networks

Hedge funds and other institutional investors have recently bought and sold shares of the company. BNP Paribas Financial Markets purchased a new stake in Ceragon Networks in the 2nd quarter worth approximately $26,000. Jones Financial Companies Lllp raised its position in shares of Ceragon Networks by 283.3% in the third quarter. Jones Financial Companies Lllp now owns 11,500 shares of the communications equipment provider’s stock worth $27,000 after buying an additional 8,500 shares in the last quarter. Walleye Capital LLC bought a new stake in Ceragon Networks during the fourth quarter valued at $27,000. Tamar Securities LLC grew its position in 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 buying an additional 6,848 shares in the last quarter. Finally, HRT Financial LP grew its position in 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 buying an additional 6,039 shares in the last quarter. Institutional investors own 13.31% of the company’s stock.

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.