Zacks Investment Research cut shares of Ceragon Networks Ltd. (NASDAQ:CRNT) from a hold rating to a sell rating in a research note published on Wednesday.

According to Zacks, “Ceragon Networks Ltd. is a leading provider of high-capacity wireless backhaul solutions for cellular and fixed wireless operators, enterprises and government organizations. Ceragon’s modular FibeAir product family is recognized as the gold standard for backhaul transmission and is also one of the top solutions chosen by cellular operators for SONET/SDH rings. A scalable, future-proof solution for wireless transport of broadband services, FibeAir operates across multiple frequencies for IP and SONET/SDH protocols, supporting the emerging needs of next-generation networks that are evolving to all-IP based services, including triple-play. It leads the market in IP backhaul, offering a unique, native IP solution that provides the efficient, robust connectivity required for WiFi, WiMAX and converged networks. “

CRNT has been the topic of several other research reports. Jefferies Group LLC reissued a hold rating and set a $2.50 price objective on shares of Ceragon Networks in a research note on Sunday, October 8th. ValuEngine raised shares of Ceragon Networks from a hold rating to a buy rating in a research note on Monday, October 2nd. Finally, Oppenheimer Holdings, Inc. reissued a hold rating on shares of Ceragon Networks in a research note on Tuesday, August 8th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. Ceragon Networks presently has an average rating of Hold and an average price target of $2.50.

Shares of Ceragon Networks (CRNT) opened at $1.69 on Wednesday. Ceragon Networks has a 52 week low of $1.64 and a 52 week high of $4.23. The company has a market cap of $133.10, a PE ratio of 8.55 and a beta of 1.08.

Ceragon Networks (NASDAQ:CRNT) last posted its quarterly earnings data on Monday, November 6th. The communications equipment provider reported $0.05 EPS for the quarter, hitting the consensus estimate of $0.05. Ceragon Networks had a net margin of 5.06% and a return on equity of 12.60%. The business had revenue of $75.99 million for the quarter, compared to analyst estimates of $78.22 million. During the same quarter in the previous year, the firm posted $0.06 earnings per share. Ceragon Networks’s quarterly revenue was down 4.0% on a year-over-year basis. equities analysts anticipate that Ceragon Networks will post 0.18 earnings per share for the current fiscal year.

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Hedge funds and other institutional investors have recently modified their holdings of the company. Menta Capital LLC bought a new position in shares of Ceragon Networks in the second quarter worth approximately $408,000. Spark Investment Management LLC bought a new position in shares of Ceragon Networks in the second quarter worth approximately $305,000. Essex Investment Management Co. LLC lifted its stake in shares of Ceragon Networks by 35.5% in the second quarter. Essex Investment Management Co. LLC now owns 523,772 shares of the communications equipment provider’s stock worth $1,336,000 after buying an additional 137,173 shares in the last quarter. Zweig DiMenna Associates LLC lifted its stake in shares of Ceragon Networks by 46.6% in the second quarter. Zweig DiMenna Associates LLC now owns 534,965 shares of the communications equipment provider’s stock worth $1,364,000 after buying an additional 169,965 shares in the last quarter. Finally, UBS Group AG bought a new position in shares of Ceragon Networks in the first quarter worth approximately $965,000. Hedge funds and other institutional investors own 19.22% of the company’s stock.

About Ceragon Networks

Ceragon Networks Ltd. offers wireless backhaul solutions. The Company’s products include FibeAir IP-20 Platform, FibeAir IP-20 Assured Platform and Network Management. The Company provides its services to wireless service providers, public safety organizations, government agencies and utility companies, among others.

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