Brokerages Set Ceragon Networks Ltd. (NASDAQ:CRNT) PT at $4.00

Shares of Ceragon Networks Ltd. (NASDAQ:CRNT) have been assigned an average rating of “Hold” from the five analysts that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $4.00.

Several equities analysts recently weighed in on CRNT shares. Needham & Company LLC reiterated a “buy” rating and set a $3.00 target price on shares of Ceragon Networks in a research report on Wednesday, November 12th. Zacks Research downgraded shares of Ceragon Networks from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 20th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Ceragon Networks in a report on Monday, December 29th.

Hedge Funds Weigh In On Ceragon Networks

Hedge funds have recently made changes to their positions in the stock. NewEdge Advisors LLC grew its stake in shares of Ceragon Networks by 132.2% during the 1st quarter. NewEdge Advisors LLC now owns 106,255 shares of the communications equipment provider’s stock valued at $250,000 after buying an additional 60,498 shares during the period. Bank of Montreal Can purchased a new stake in Ceragon Networks during the second quarter valued at about $35,000. First Eagle Investment Management LLC increased its stake in Ceragon Networks by 30.9% during the second quarter. First Eagle Investment Management LLC now owns 590,860 shares of the communications equipment provider’s stock worth $1,454,000 after acquiring an additional 139,528 shares during the last quarter. Wedbush Securities Inc. increased its stake in Ceragon Networks by 58.4% during the second quarter. Wedbush Securities Inc. now owns 23,664 shares of the communications equipment provider’s stock worth $58,000 after acquiring an additional 8,727 shares during the last quarter. Finally, WealthTrust Axiom LLC raised its holdings in shares of Ceragon Networks by 172.1% in the 2nd quarter. WealthTrust Axiom LLC now owns 464,200 shares of the communications equipment provider’s stock worth $1,142,000 after purchasing an additional 293,600 shares during the period. Institutional investors and hedge funds own 13.31% of the company’s stock.

Ceragon Networks Stock Performance

Shares of NASDAQ CRNT opened at $2.27 on Thursday. Ceragon Networks has a 1 year low of $1.82 and a 1 year high of $2.85. The firm’s 50 day moving average price is $2.25 and its 200 day moving average price is $2.21. The firm has a market cap of $201.87 million, a P/E ratio of -113.50 and a beta of 1.20.

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