Ceragon Networks Ltd. (CRNT) – What Are Brokerages Saying About This Stock?

Ceragon Networks Ltd. (NASDAQ:CRNT) has been given an average recommendation of “Moderate Buy” by the six analysts that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price target among brokers that have covered the stock in the last year is $3.75.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Spark Investment Management LLC acquired a new position in Ceragon Networks in the 2nd quarter valued at about $27,000. AXQ Capital LP lifted its position in Ceragon Networks by 66.3% during the second quarter. AXQ Capital LP now owns 48,663 shares of the communications equipment provider’s stock worth $126,000 after acquiring an additional 19,404 shares during the last quarter. Renaissance Technologies LLC lifted its position in Ceragon Networks by 13.7% during the first quarter. Renaissance Technologies LLC now owns 214,500 shares of the communications equipment provider’s stock worth $463,000 after acquiring an additional 25,800 shares during the last quarter. Aristides Capital LLC boosted its holdings in shares of Ceragon Networks by 15.5% during the first quarter. Aristides Capital LLC now owns 162,963 shares of the communications equipment provider’s stock worth $352,000 after acquiring an additional 21,833 shares during the period. Finally, Arrowstreet Capital Limited Partnership bought a new stake in shares of Ceragon Networks during the first quarter worth approximately $911,000. Institutional investors own 13.31% of the company’s stock.

Ceragon Networks Stock Performance

CRNT traded up $0.02 on Friday, hitting $2.04. 493,948 shares of the company were exchanged, compared to its average volume of 357,457. Ceragon Networks has a 12 month low of $1.85 and a 12 month high of $3.29. The company has a market cap of $185.42 million, a PE ratio of -68.00 and a beta of 1.33. The stock’s fifty day moving average is $2.09 and its 200-day moving average is $2.36.

Ceragon Networks (NASDAQ:CRNT) last issued its quarterly earnings results on Tuesday, August 11th. The communications equipment provider reported $0.02 EPS for the quarter. The firm had revenue of $93.91 million during the quarter, compared to analysts’ expectations of $86.45 million. Ceragon Networks had a positive return on equity of 2.74% and a negative net margin of 0.95%. As a group, equities research analysts expect that Ceragon Networks will post 0.10 EPS for the current fiscal year.

Ceragon Networks Company Profile

Ceragon Networks Ltd. is a telecommunications equipment and solutions provider focused on wireless transport networks. The company develops microwave and millimeter-wave radio systems that enable wireless backhaul, fronthaul and xHaul connections between mobile network sites and core networks. Its solutions are designed to help communications service providers expand network capacity, support 4G and 5G deployments, and connect locations where fiber infrastructure is unavailable or impractical.

Ceragon’s portfolio includes packet microwave and hybrid wireless systems, outdoor and indoor radios, antennas, network management software, and related services.