Ceragon Networks’ (CRNT) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Ceragon Networks (NASDAQ:CRNT) in a report issued on Wednesday,Benzinga reports. Needham & Company LLC currently has a $3.00 price objective on the communications equipment provider’s stock.

Several other analysts also recently commented on the stock. Roth Capital reduced their target price on shares of Ceragon Networks from $5.00 to $4.00 and set a “buy” rating for the company in a report on Friday, July 18th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Ceragon Networks in a research report on Wednesday, October 8th. Finally, Zacks Research raised Ceragon Networks from a “strong sell” rating to a “hold” rating in a report on Monday, October 6th. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $5.50.

Ceragon Networks Stock Down 1.9%

CRNT opened at $2.08 on Wednesday. Ceragon Networks has a 12-month low of $1.82 and a 12-month high of $5.73. The business has a 50 day moving average of $2.36 and a 200-day moving average of $2.30. The stock has a market cap of $184.97 million, a price-to-earnings ratio of 13.00 and a beta of 1.13.

Ceragon Networks (NASDAQ:CRNT) last posted its earnings results on Tuesday, November 11th. The communications equipment provider reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.02). Ceragon Networks had a return on equity of 13.71% and a net margin of 3.57%.The business had revenue of $85.48 million for the quarter, compared to analyst estimates of $83.48 million. Ceragon Networks has set its FY 2025 guidance at EPS. As a group, analysts expect that Ceragon Networks will post 0.26 earnings per share for the current year.

Institutional Trading of Ceragon Networks

Large investors have recently modified their holdings of the stock. Independent Advisor Alliance acquired a new position in Ceragon Networks in the first quarter valued at about $216,000. Russell Investments Group Ltd. increased its holdings in Ceragon Networks by 25.7% in the 1st quarter. Russell Investments Group Ltd. now owns 141,589 shares of the communications equipment provider’s stock valued at $333,000 after buying an additional 28,920 shares during the period. KLCM Advisors Inc. acquired a new position in shares of Ceragon Networks in the 1st quarter valued at approximately $1,871,000. Quantbot Technologies LP bought a new stake in shares of Ceragon Networks during the 1st quarter worth approximately $90,000. Finally, First Wilshire Securities Management Inc. boosted its position in shares of Ceragon Networks by 11.4% during the 1st quarter. First Wilshire Securities Management Inc. now owns 3,282,992 shares of the communications equipment provider’s stock worth $7,715,000 after acquiring an additional 336,646 shares in the last quarter. 13.31% of the stock is owned by institutional investors and hedge funds.

Ceragon Networks Company Profile

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.