StockNews.com Downgrades Ceragon Networks (NASDAQ:CRNT) to Hold

StockNews.com cut shares of Ceragon Networks (NASDAQ:CRNT) from a buy rating to a hold rating in a research note issued to investors on Thursday morning.

Other equities analysts have also issued reports about the stock. Needham & Company LLC lowered their price target on shares of Ceragon Networks from $6.00 to $4.50 and set a “buy” rating on the stock in a research report on Wednesday. Craig Hallum assumed coverage on shares of Ceragon Networks in a research report on Thursday, March 13th. They set a “buy” rating and a $5.00 price target on the stock. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $6.00.

Ceragon Networks Trading Down 1.4 %

NASDAQ CRNT opened at $2.17 on Thursday. The stock has a market capitalization of $192.98 million, a price-to-earnings ratio of 8.04 and a beta of 1.04. The stock has a 50-day moving average of $2.30 and a 200 day moving average of $3.37. Ceragon Networks has a twelve month low of $1.95 and a twelve month high of $5.73.

Ceragon Networks (NASDAQ:CRNT) last announced its earnings results on Wednesday, May 7th. The communications equipment provider reported $0.02 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.02. Ceragon Networks had a net margin of 6.10% and a return on equity of 21.32%. Equities analysts predict that Ceragon Networks will post 0.26 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. acquired a new stake in shares of Ceragon Networks in the third quarter valued at $104,000. Inspire Investing LLC purchased a new stake in Ceragon Networks during the fourth quarter worth about $903,000. Perigon Wealth Management LLC acquired a new stake in shares of Ceragon Networks during the fourth quarter worth about $90,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in shares of Ceragon Networks in the fourth quarter valued at approximately $166,000. Finally, State of New Jersey Common Pension Fund D acquired a new position in shares of Ceragon Networks in the fourth quarter valued at approximately $182,000. 13.31% of the stock is currently owned by institutional investors and hedge funds.

About Ceragon Networks

Ceragon Networks Ltd., together with its subsidiaries, provides wireless transport solutions for cellular operators and other wireless service providers in North America, Europe, Africa, the Asia Pacific, the Middle East, India, and Latin America. The company's solutions use microwave and millimeter wave radio technology to transfer telecommunication traffic between base stations, small/distributed cells, and the service provider's network.