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

Shares of Ceragon Networks Ltd. (NASDAQ:CRNT) have earned a consensus rating of “Moderate Buy” from the six brokerages that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $3.75.

Several brokerages have issued reports on CRNT. Wall Street Zen raised shares of Ceragon Networks from a “hold” rating to a “strong-buy” rating in a research report on Saturday, May 23rd. Zacks Research raised shares of Ceragon Networks from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 21st. Lake Street Capital started coverage on shares of Ceragon Networks in a research report on Tuesday, March 31st. They issued a “buy” rating and a $3.50 price objective for the company. Weiss Ratings raised shares of Ceragon Networks from a “sell (d)” rating to a “sell (d+)” rating in a research report on Tuesday, May 26th. Finally, Craig Hallum reissued a “buy” rating and set a $4.00 price target on shares of Ceragon Networks in a research report on Wednesday, May 20th.

Institutional Trading of Ceragon Networks

Hedge funds have recently made changes to their positions in the stock. CSM Advisors LLC acquired a new stake in shares of Ceragon Networks during the third quarter worth approximately $4,819,000. Legato Capital Management LLC grew its position in shares of Ceragon Networks by 33.1% during the third quarter. Legato Capital Management LLC now owns 410,361 shares of the communications equipment provider’s stock worth $956,000 after buying an additional 102,077 shares in the last quarter. GSA Capital Partners LLP grew its position in shares of Ceragon Networks by 283.2% during the third quarter. GSA Capital Partners LLP now owns 82,577 shares of the communications equipment provider’s stock worth $192,000 after buying an additional 61,027 shares in the last quarter. Jones Financial Companies Lllp grew its position in shares of Ceragon Networks by 283.3% during the third quarter. Jones Financial Companies Lllp now owns 11,500 shares of the communications equipment provider’s stock worth $27,000 after buying an additional 8,500 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new position in Ceragon Networks during the first quarter worth $911,000. Institutional investors and hedge funds own 13.31% of the company’s stock.

Ceragon Networks Stock Up 2.4%

Shares of NASDAQ:CRNT opened at $2.99 on Friday. Ceragon Networks has a 52-week low of $1.82 and a 52-week high of $3.29. The company has a 50 day moving average of $2.62 and a two-hundred day moving average of $2.34. The company has a market capitalization of $271.76 million, a price-to-earnings ratio of -149.50 and a beta of 1.35.

Ceragon Networks (NASDAQ:CRNT) last issued its quarterly earnings data on Wednesday, April 15th. The communications equipment provider reported $0.01 earnings per share (EPS) for the quarter. Ceragon Networks had a negative net margin of 0.73% and a positive return on equity of 2.27%. The company had revenue of $85.00 million during the quarter. On average, equities analysts anticipate that Ceragon Networks will post 0.12 earnings per share for the current year.

About Ceragon Networks

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.