Ceragon Networks Ltd. (NASDAQ:CRNT) Stock Has Average Target Price of $3.75 According to Brokerages

Shares of Ceragon Networks Ltd. (NASDAQ:CRNT) have earned an average rating of “Moderate Buy” from the six brokerages that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $3.75.

A number of brokerages have recently issued reports on CRNT. Zacks Research raised shares of Ceragon Networks from a “strong sell” rating to a “hold” rating in a research report on Thursday, August 27th. Wall Street Zen cut Ceragon Networks from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 15th. Weiss Ratings downgraded Ceragon Networks from a “sell (d+)” rating to a “sell (d)” rating in a research report on Wednesday, August 19th. Finally, Needham & Company LLC reissued a “buy” rating and set a $3.00 price target on shares of Ceragon Networks in a report on Tuesday, August 11th.

Institutional Investors Weigh In On Ceragon Networks

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. First Wilshire Securities Management Inc. boosted its position in shares of Ceragon Networks by 18.0% in the first quarter. First Wilshire Securities Management Inc. now owns 4,854,150 shares of the communications equipment provider’s stock worth $10,485,000 after purchasing an additional 740,358 shares during the period. Arrowstreet Capital Limited Partnership bought a new position in Ceragon Networks in the 1st quarter worth $911,000. WealthTrust Axiom LLC increased its stake in Ceragon Networks by 13.2% in the 4th quarter. WealthTrust Axiom LLC now owns 900,299 shares of the communications equipment provider’s stock worth $1,891,000 after buying an additional 104,799 shares in the last quarter. Legato Capital Management LLC raised its holdings in Ceragon Networks by 9.6% during the fourth quarter. Legato Capital Management LLC now owns 449,930 shares of the communications equipment provider’s stock valued at $945,000 after acquiring an additional 39,569 shares during the period. Finally, Renaissance Technologies LLC lifted its position in shares of Ceragon Networks by 13.7% in the first quarter. Renaissance Technologies LLC now owns 214,500 shares of the communications equipment provider’s stock valued at $463,000 after acquiring an additional 25,800 shares in the last quarter. Institutional investors own 13.31% of the company’s stock.

Ceragon Networks Trading Down 0.9%

CRNT opened at $2.11 on Tuesday. The company has a market cap of $191.78 million, a price-to-earnings ratio of -70.33 and a beta of 1.36. The company’s 50 day moving average is $2.13 and its 200 day moving average is $2.37. Ceragon Networks has a 12-month low of $1.85 and a 12-month high of $3.29.

Ceragon Networks (NASDAQ:CRNT) last announced its earnings results on Tuesday, August 11th. The communications equipment provider reported $0.02 earnings per share (EPS) for the quarter. Ceragon Networks had a negative net margin of 0.95% and a positive return on equity of 2.74%. The company had revenue of $93.91 million during the quarter, compared to analyst estimates of $86.45 million. As a group, analysts predict that Ceragon Networks will post 0.1 EPS for the current fiscal year.

Ceragon Networks Company Profile

Ceragon Networks Ltd. is a telecommunications equipment and solutions provider headquartered in Israel. The company develops wireless transport systems that enable communications service providers and other organizations to connect mobile and fixed networks, particularly where fiber infrastructure is unavailable, costly, or difficult to deploy.

Its portfolio includes microwave and millimeter-wave radio systems, packet-based networking equipment, and related software and services. Ceragon’s solutions support mobile backhaul, midhaul and fronthaul for 4G and 5G networks, as well as fixed wireless access, private networks, enterprise connectivity, public safety, utilities, and government communications.