Ceragon Networks (NASDAQ:CRNT) Downgraded by Zacks Research to “Strong Sell”

Zacks Research cut shares of Ceragon Networks (NASDAQ:CRNT) from a hold rating to a strong sell rating in a report issued on Thursday morning,Zacks.com reports.

CRNT has been the subject of a number of other reports. Roth Capital reissued a “buy” rating and set a $4.50 price objective on shares of Ceragon Networks in a research report on Tuesday, May 19th. Wall Street Zen upgraded shares of Ceragon Networks from a “hold” rating to a “strong-buy” rating in a research note on Saturday, May 23rd. Craig Hallum reiterated a “buy” rating and set a $4.00 price target on shares of Ceragon Networks in a report on Wednesday, May 20th. Lake Street Capital began coverage on shares of Ceragon Networks in a report on Tuesday, March 31st. They set a “buy” rating and a $3.50 price target for the company. Finally, Weiss Ratings raised shares of Ceragon Networks from a “sell (d)” rating to a “sell (d+)” rating in a research report on Tuesday, May 26th. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. According to MarketBeat, Ceragon Networks presently has an average rating of “Hold” and an average price target of $3.75.

Ceragon Networks Stock Performance

NASDAQ:CRNT opened at $2.17 on Thursday. Ceragon Networks has a 12-month low of $1.82 and a 12-month high of $3.29. The firm has a market cap of $197.23 million, a PE ratio of -108.50 and a beta of 1.36. The stock has a fifty day moving average price of $2.63 and a 200 day moving average price of $2.42.

Ceragon Networks (NASDAQ:CRNT) last issued its quarterly earnings results on Wednesday, April 15th. The communications equipment provider reported $0.01 earnings per share for the quarter. The company had revenue of $85.00 million for the quarter. Ceragon Networks had a positive return on equity of 2.27% and a negative net margin of 0.73%. Equities analysts forecast that Ceragon Networks will post 0.12 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. BNP Paribas Financial Markets increased its position in shares of Ceragon Networks by 49.1% during the third quarter. BNP Paribas Financial Markets now owns 15,817 shares of the communications equipment provider’s stock worth $37,000 after purchasing an additional 5,211 shares in the last quarter. HRT Financial LP boosted its position in shares of Ceragon Networks by 44.3% in the 4th quarter. HRT Financial LP now owns 19,660 shares of the communications equipment provider’s stock valued at $41,000 after purchasing an additional 6,039 shares during the period. Aristides Capital LLC boosted its position in shares of Ceragon Networks by 4.5% in the 4th quarter. Aristides Capital LLC now owns 141,130 shares of the communications equipment provider’s stock valued at $296,000 after purchasing an additional 6,130 shares during the period. Tamar Securities LLC grew its stake in Ceragon Networks by 67.3% during the 4th 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 during the last quarter. Finally, WINTON GROUP Ltd grew its stake in Ceragon Networks by 11.2% during the 4th quarter. WINTON GROUP Ltd now owns 97,834 shares of the communications equipment provider’s stock worth $205,000 after buying an additional 9,867 shares during the last quarter. Hedge funds and other institutional investors own 13.31% of the company’s stock.

Ceragon Networks Company Profile

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.