Ceragon Networks Ltd. (NASDAQ:CRNT) Given Consensus Rating of “Hold” by Brokerages

Ceragon Networks Ltd. (NASDAQ:CRNT) has been assigned a consensus rating of “Hold” from the five analysts that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $3.50.

CRNT has been the topic of a number of recent research reports. Lake Street Capital initiated coverage on shares of Ceragon Networks in a research note on Tuesday. They issued a “buy” rating and a $3.50 price objective on the stock. Zacks Research lowered Ceragon Networks from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 20th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Ceragon Networks in a research report on Friday.

Ceragon Networks Price Performance

Shares of CRNT traded up $0.11 during mid-day trading on Tuesday, reaching $2.12. 86,186 shares of the company’s stock were exchanged, compared to its average volume of 478,239. The business’s fifty day simple moving average is $2.28 and its 200-day simple moving average is $2.25. The stock has a market capitalization of $188.09 million, a PE ratio of -105.75 and a beta of 1.20. Ceragon Networks has a 52-week low of $1.82 and a 52-week high of $2.84.

Ceragon Networks (NASDAQ:CRNT) last released its quarterly earnings results on Tuesday, February 17th. The communications equipment provider reported $0.02 EPS for the quarter, missing the consensus estimate of $0.03 by ($0.01). The business had revenue of $82.33 million during the quarter, compared to analysts’ expectations of $84.23 million. Ceragon Networks had a negative net margin of 0.62% and a positive return on equity of 3.52%. Equities research analysts predict that Ceragon Networks will post 0.26 earnings per share for the current year.

Hedge Funds Weigh In On Ceragon Networks

A number of large investors have recently bought and sold shares of the company. NewEdge Advisors LLC boosted its position in shares of Ceragon Networks by 132.2% during the 1st quarter. NewEdge Advisors LLC now owns 106,255 shares of the communications equipment provider’s stock worth $250,000 after purchasing an additional 60,498 shares in the last quarter. First Wilshire Securities Management Inc. grew its stake in shares of Ceragon Networks by 23.6% during the 2nd quarter. First Wilshire Securities Management Inc. now owns 4,058,774 shares of the communications equipment provider’s stock worth $9,985,000 after purchasing an additional 775,782 shares during the period. Qube Research & Technologies Ltd increased its holdings in shares of Ceragon Networks by 100.4% in the 2nd quarter. Qube Research & Technologies Ltd now owns 580,093 shares of the communications equipment provider’s stock valued at $1,427,000 after purchasing an additional 290,695 shares in the last quarter. Squarepoint Ops LLC lifted its stake in shares of Ceragon Networks by 642.7% in the second quarter. Squarepoint Ops LLC now owns 552,939 shares of the communications equipment provider’s stock valued at $1,360,000 after purchasing an additional 478,489 shares during the period. Finally, Bank of America Corp DE lifted its stake in shares of Ceragon Networks by 31.7% in the second quarter. Bank of America Corp DE now owns 372,961 shares of the communications equipment provider’s stock valued at $917,000 after purchasing an additional 89,821 shares during the period. Hedge funds and other institutional investors own 13.31% of the company’s stock.

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.