Ceragon Networks Ltd. (NASDAQ:CRNT) Receives Consensus Rating of “Moderate Buy” from Brokerages

Ceragon Networks Ltd. (NASDAQ:CRNTGet Free Report) has been assigned an average recommendation of “Moderate Buy” from the six research firms that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $3.75.

Several equities analysts recently issued reports on CRNT shares. Needham & Company LLC reiterated a “buy” rating and issued a $3.00 price objective on shares of Ceragon Networks in a research report on Wednesday. Craig Hallum reiterated a “buy” rating and set a $4.00 price objective on shares of Ceragon Networks in a research note on Wednesday. Roth Mkm reiterated a “buy” rating and set a $4.50 price objective on shares of Ceragon Networks in a research note on Tuesday. Weiss Ratings cut Ceragon Networks from a “hold (c-)” rating to a “sell (d)” rating in a research note on Monday, April 20th. Finally, Zacks Research upgraded Ceragon Networks from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 21st.

View Our Latest Analysis on Ceragon Networks

Ceragon Networks Stock Up 3.8%

Shares of NASDAQ:CRNT traded up $0.10 during trading on Wednesday, reaching $2.63. The stock had a trading volume of 558,945 shares, compared to its average volume of 489,772. The stock has a fifty day simple moving average of $2.39 and a two-hundred day simple moving average of $2.27. The firm has a market capitalization of $238.59 million, a price-to-earnings ratio of -131.10 and a beta of 1.32. Ceragon Networks has a 52 week low of $1.82 and a 52 week high of $2.84.

Ceragon Networks (NASDAQ:CRNTGet Free Report) last announced its quarterly earnings data on Tuesday, May 19th. The communications equipment provider reported $0.01 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.01. The business had revenue of $85.00 million for the quarter, compared to the consensus estimate of $80.36 million. Ceragon Networks had a negative net margin of 0.62% and a positive return on equity of 3.52%. On average, analysts forecast that Ceragon Networks will post 0.17 EPS for the current year.

Ceragon Networks News Roundup

Here are the key news stories impacting Ceragon Networks this week:

Institutional Investors Weigh In On Ceragon Networks

A number of large investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets bought a new position in shares of Ceragon Networks during the second quarter worth about $26,000. Jones Financial Companies Lllp increased its holdings in Ceragon Networks by 283.3% in the third quarter. Jones Financial Companies Lllp now owns 11,500 shares of the communications equipment provider’s stock worth $27,000 after purchasing an additional 8,500 shares in the last quarter. Walleye Capital LLC bought a new stake in Ceragon Networks in the fourth quarter worth approximately $27,000. Tamar Securities LLC increased its holdings in Ceragon Networks by 67.3% in the fourth quarter. Tamar Securities LLC now owns 17,016 shares of the communications equipment provider’s stock worth $36,000 after purchasing an additional 6,848 shares in the last quarter. Finally, HRT Financial LP increased its holdings in Ceragon Networks by 44.3% in the fourth quarter. HRT Financial LP now owns 19,660 shares of the communications equipment provider’s stock worth $41,000 after purchasing an additional 6,039 shares in the last quarter. Institutional investors own 13.31% of the company’s stock.

About Ceragon Networks

(Get Free Report)

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.

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Analyst Recommendations for Ceragon Networks (NASDAQ:CRNT)

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