Ceragon Networks Ltd (NASDAQ:CRNT) shares shot up 6.8% during trading on Wednesday . The stock traded as high as $4.61 and last traded at $4.54. 959,775 shares changed hands during mid-day trading, an increase of 62% from the average session volume of 592,554 shares. The stock had previously closed at $4.25.

Several research firms have commented on CRNT. Zacks Investment Research upgraded shares of Ceragon Networks from a “sell” rating to a “hold” rating in a research report on Monday, October 1st. BidaskClub upgraded shares of Ceragon Networks from a “strong sell” rating to a “sell” rating in a research report on Thursday, November 8th. Citigroup upgraded shares of Ceragon Networks from a “market perform” rating to an “outperform” rating and set a $4.50 target price for the company in a research report on Friday, September 28th. Oppenheimer upgraded shares of Ceragon Networks from a “market perform” rating to an “outperform” rating and set a $5.00 target price for the company in a research report on Friday, September 28th. Finally, CIBC upgraded shares of Ceragon Networks from a “market perform” rating to an “outperform” rating in a research report on Friday, September 28th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $4.23.

The company has a market capitalization of $336.00 million, a price-to-earnings ratio of 25.22, a P/E/G ratio of 1.59 and a beta of 0.73.

Ceragon Networks (NASDAQ:CRNT) last issued its quarterly earnings results on Monday, November 5th. The communications equipment provider reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.03. The company had revenue of $86.53 million during the quarter, compared to analyst estimates of $82.59 million. Ceragon Networks had a net margin of 5.41% and a return on equity of 11.15%. On average, research analysts predict that Ceragon Networks Ltd will post 0.18 EPS for the current fiscal year.

Several large investors have recently modified their holdings of CRNT. Panagora Asset Management Inc. lifted its stake in shares of Ceragon Networks by 1,581.7% in the 3rd quarter. Panagora Asset Management Inc. now owns 36,475 shares of the communications equipment provider’s stock worth $123,000 after acquiring an additional 34,306 shares during the period. Jane Street Group LLC lifted its stake in shares of Ceragon Networks by 221.1% in the 2nd quarter. Jane Street Group LLC now owns 50,518 shares of the communications equipment provider’s stock worth $180,000 after acquiring an additional 34,787 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in Ceragon Networks during the second quarter valued at approximately $279,000. BlackRock Inc. acquired a new stake in Ceragon Networks during the second quarter valued at approximately $286,000. Finally, GSA Capital Partners LLP acquired a new stake in Ceragon Networks during the third quarter valued at approximately $404,000. 24.65% of the stock is owned by institutional investors.

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Ceragon Networks Company Profile (NASDAQ:CRNT)

Ceragon Networks Ltd. provides wireless backhaul solutions that enable cellular operators and other wireless service providers to deliver voice and data services worldwide. Its wireless backhaul solutions use microwave radio technology to transfer telecommunication traffic between base stations, small sells, and the core of the service provider's network.

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