Brokerages Set Ceragon Networks Ltd. (NASDAQ:CRNT) Price Target at $4.00

Ceragon Networks Ltd. (NASDAQ:CRNT) has earned an average recommendation of “Moderate Buy” from the five ratings firms that are presently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $4.00.

Several analysts have issued reports on the stock. Zacks Research raised shares of Ceragon Networks from a “strong sell” rating to a “hold” rating in a research report on Monday, October 6th. Needham & Company LLC restated a “buy” rating and set a $3.00 price objective on shares of Ceragon Networks in a research note on Wednesday, November 12th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Ceragon Networks in a research note on Monday, December 29th.

Ceragon Networks Stock Up 3.8%

CRNT stock opened at $2.20 on Wednesday. The company has a market cap of $195.65 million, a price-to-earnings ratio of 110.06 and a beta of 1.07. Ceragon Networks has a twelve month low of $1.82 and a twelve month high of $5.52. The business has a 50 day moving average price of $2.11 and a two-hundred day moving average price of $2.22.

Ceragon Networks (NASDAQ:CRNT) last released its quarterly earnings data on Wednesday, November 12th. The communications equipment provider reported $0.02 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.02). Ceragon Networks had a net margin of 0.38% and a return on equity of 6.67%. The company had revenue of $85.48 million during the quarter, compared to analyst estimates of $83.48 million. On average, equities research analysts anticipate that Ceragon Networks will post 0.26 EPS for the current fiscal year.

Institutional Trading of Ceragon Networks

Hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. boosted its stake in shares of Ceragon Networks by 26.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 234,701 shares of the communications equipment provider’s stock worth $547,000 after acquiring an additional 49,549 shares during the period. Worth Venture Partners LLC acquired a new stake in Ceragon Networks during the 3rd quarter valued at $122,000. CSM Advisors LLC bought a new position in Ceragon Networks during the third quarter worth $4,819,000. Boothbay Fund Management LLC increased its holdings in shares of Ceragon Networks by 48.6% in the third quarter. Boothbay Fund Management LLC now owns 199,663 shares of the communications equipment provider’s stock valued at $465,000 after purchasing an additional 65,299 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its holdings in shares of Ceragon Networks by 49.1% in the third quarter. BNP Paribas Financial Markets now owns 15,817 shares of the communications equipment provider’s stock valued at $37,000 after purchasing an additional 5,211 shares during the last quarter. 13.31% of the stock is owned by institutional investors and hedge funds.

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.