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

Ceragon Networks (NASDAQ:CRNT)‘s stock had its “buy” rating restated by analysts at Needham & Company LLC in a note issued to investors on Wednesday,Benzinga reports. They currently have a $3.00 price target on the communications equipment provider’s stock. Needham & Company LLC’s target price would indicate a potential upside of 18.58% from the stock’s previous close.

A number of other analysts have also recently weighed in on the stock. Weiss Ratings cut shares of Ceragon Networks from a “hold (c-)” rating to a “sell (d)” rating in a research note on Monday, April 20th. Zacks Research upgraded Ceragon Networks from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 21st. Lake Street Capital started coverage on shares of Ceragon Networks in a report on Tuesday, March 31st. They set a “buy” rating and a $3.50 target price on the stock. Finally, Roth Mkm reaffirmed a “buy” rating and set a $4.50 target price on shares of Ceragon Networks in a research report on Tuesday. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Ceragon Networks has an average rating of “Hold” and an average price target of $3.67.

Ceragon Networks Stock Performance

Shares of CRNT opened at $2.53 on Wednesday. Ceragon Networks has a 52-week low of $1.82 and a 52-week high of $2.84. The business’s fifty day moving average is $2.39 and its 200-day moving average is $2.27. The firm has a market cap of $229.95 million, a price-to-earnings ratio of -126.50 and a beta of 1.32.

Ceragon Networks (NASDAQ:CRNT) last issued its quarterly earnings results on Tuesday, May 19th. The communications equipment provider reported $0.01 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.01. The company had revenue of $85.00 million for the quarter, compared to analyst estimates of $80.36 million. Ceragon Networks had a positive return on equity of 3.52% and a negative net margin of 0.62%. As a group, research analysts forecast that Ceragon Networks will post 0.17 EPS for the current fiscal year.

Hedge Funds Weigh In On Ceragon Networks

Large investors have recently bought and sold shares of the stock. BNP Paribas Financial Markets bought a new position in Ceragon Networks during the 2nd quarter valued at $26,000. Jones Financial Companies Lllp grew its position in Ceragon Networks by 283.3% in the 3rd quarter. Jones Financial Companies Lllp now owns 11,500 shares of the communications equipment provider’s stock worth $27,000 after purchasing an additional 8,500 shares in the last quarter. Walleye Capital LLC bought a new stake in Ceragon Networks in the 4th quarter worth about $27,000. Tamar Securities LLC grew its position in Ceragon Networks by 67.3% in the 4th quarter. Tamar Securities LLC now owns 17,016 shares of the communications equipment provider’s stock worth $36,000 after purchasing an additional 6,848 shares in the last quarter. Finally, HRT Financial LP grew its position in Ceragon Networks by 44.3% in the 4th quarter. HRT Financial LP now owns 19,660 shares of the communications equipment provider’s stock worth $41,000 after purchasing an additional 6,039 shares in the last quarter. 13.31% of the stock is currently owned by institutional investors.

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.