Ceragon Networks Ltd. (NASDAQ:CRNT) Receives Average Recommendation of “Moderate Buy” from Brokerages

Ceragon Networks Ltd. (NASDAQ:CRNT) has received an average recommendation of “Moderate Buy” from the six brokerages that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $3.75.

Several equities research analysts have recently weighed in on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $3.00 price target on shares of Ceragon Networks in a research report on Wednesday, May 20th. Lake Street Capital assumed coverage on shares of Ceragon Networks in a research report on Tuesday, March 31st. They issued a “buy” rating and a $3.50 price target for the company. Zacks Research raised shares of Ceragon Networks from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 21st. Craig Hallum reaffirmed 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 Mkm reaffirmed a “buy” rating and issued a $4.50 price target on shares of Ceragon Networks in a research report on Tuesday, May 19th.

Institutional Investors Weigh In On Ceragon Networks

A number of hedge funds and other institutional investors have recently bought and sold shares of CRNT. BNP Paribas Financial Markets purchased a new stake in Ceragon Networks during the second quarter valued at approximately $26,000. Jones Financial Companies Lllp lifted its position in Ceragon Networks by 283.3% during the third quarter. Jones Financial Companies Lllp now owns 11,500 shares of the communications equipment provider’s stock valued at $27,000 after acquiring an additional 8,500 shares during the last quarter. Walleye Capital LLC purchased a new stake in Ceragon Networks during the fourth quarter valued at approximately $27,000. Tamar Securities LLC lifted 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 valued at $36,000 after acquiring an additional 6,848 shares during the last quarter. Finally, HRT Financial LP lifted 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 valued at $41,000 after acquiring an additional 6,039 shares during the last quarter. Hedge funds and other institutional investors own 13.31% of the company’s stock.

Ceragon Networks Price Performance

Shares of CRNT stock opened at $2.79 on Wednesday. The company has a market capitalization of $253.58 million, a P/E ratio of -139.50 and a beta of 1.32. The company’s 50-day simple moving average is $2.43 and its two-hundred day simple moving average is $2.27. Ceragon Networks has a one year low of $1.82 and a one year high of $2.87.

Ceragon Networks (NASDAQ:CRNT) last announced its quarterly earnings results on Wednesday, April 15th. The communications equipment provider reported $0.01 earnings per share for the quarter. Ceragon Networks had a negative net margin of 0.73% and a positive return on equity of 2.27%. The firm had revenue of $85.00 million during the quarter. On average, research analysts expect that Ceragon Networks will post 0.15 EPS for the current fiscal year.

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.