Ceragon Networks Ltd. (NASDAQ:CRNT) Receives $3.75 Average PT from Brokerages

Shares of Ceragon Networks Ltd. (NASDAQ:CRNT) have earned a consensus recommendation of “Hold” from the six analysts that are presently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating and four have assigned a buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $3.75.

Several research analysts recently weighed in on the company. Wall Street Zen upgraded Ceragon Networks from a “hold” rating to a “strong-buy” rating in a research note on Saturday, May 23rd. Needham & Company LLC reissued a “buy” rating and issued a $3.00 price target on shares of Ceragon Networks in a report on Wednesday, May 20th. Weiss Ratings upgraded Ceragon Networks from a “sell (d)” rating to a “sell (d+)” rating in a research note on Tuesday, May 26th. Roth Capital restated a “buy” rating and set a $4.50 price target on shares of Ceragon Networks in a research note on Tuesday, May 19th. Finally, Craig Hallum reaffirmed a “buy” rating and issued a $4.00 price objective on shares of Ceragon Networks in a research report on Wednesday, May 20th.

Institutional Investors Weigh In On Ceragon Networks

Several institutional investors and hedge funds have recently made changes to their positions in the stock. NewEdge Advisors LLC increased its position in shares of Ceragon Networks by 132.2% in the 1st quarter. NewEdge Advisors LLC now owns 106,255 shares of the communications equipment provider’s stock valued at $250,000 after acquiring an additional 60,498 shares during the period. Qube Research & Technologies Ltd lifted its position in Ceragon Networks by 100.4% during the 2nd quarter. Qube Research & Technologies Ltd now owns 580,093 shares of the communications equipment provider’s stock worth $1,427,000 after acquiring an additional 290,695 shares during the period. Squarepoint Ops LLC grew its stake in Ceragon Networks by 642.7% during the 2nd quarter. Squarepoint Ops LLC now owns 552,939 shares of the communications equipment provider’s stock valued at $1,360,000 after purchasing an additional 478,489 shares during the last quarter. Bank of America Corp DE grew its stake in Ceragon Networks by 31.7% during the 2nd quarter. Bank of America Corp DE now owns 372,961 shares of the communications equipment provider’s stock valued at $917,000 after purchasing an additional 89,821 shares during the last quarter. Finally, Boothbay Fund Management LLC increased its holdings in shares of Ceragon Networks by 85.6% in the second quarter. Boothbay Fund Management LLC now owns 134,364 shares of the communications equipment provider’s stock valued at $331,000 after purchasing an additional 61,976 shares during the period. 13.31% of the stock is currently owned by institutional investors and hedge funds.

Ceragon Networks Price Performance

NASDAQ CRNT opened at $2.21 on Monday. Ceragon Networks has a 52 week low of $1.85 and a 52 week high of $3.29. The company has a 50 day moving average price of $2.49 and a 200 day moving average price of $2.42. The firm has a market cap of $200.87 million, a PE ratio of -110.50 and a beta of 1.37.

Ceragon Networks (NASDAQ:CRNT) last announced its 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 during the quarter. Ceragon Networks had a negative net margin of 0.73% and a positive return on equity of 2.27%. On average, equities research analysts anticipate that Ceragon Networks will post 0.12 earnings per share for the current fiscal year.

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.