Ceragon Networks (NASDAQ:CRNT) Upgraded to “Hold” at Zacks Research

Zacks Research upgraded shares of Ceragon Networks (NASDAQ:CRNT) from a strong sell rating to a hold rating in a research report report published on Thursday morning,Zacks.com reports.

Several other equities analysts have also commented on the company. Craig Hallum reiterated a “buy” rating and set a $4.00 price objective on shares of Ceragon Networks in a research report on Wednesday, May 20th. Wall Street Zen lowered Ceragon Networks from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 15th. Roth Capital reiterated a “buy” rating and set a $4.50 price target on shares of Ceragon Networks in a research report on Tuesday, May 19th. Needham & Company LLC restated a “buy” rating and issued a $3.00 price objective on shares of Ceragon Networks in a report on Tuesday, August 11th. Finally, Weiss Ratings lowered shares of Ceragon Networks from a “sell (d+)” rating to a “sell (d)” rating in a report on Wednesday, August 19th. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Ceragon Networks has a consensus rating of “Moderate Buy” and an average target price of $3.75.

Ceragon Networks Price Performance

Shares of NASDAQ:CRNT opened at $2.09 on Thursday. The company’s fifty day moving average price is $2.26 and its 200-day moving average price is $2.40. The firm has a market capitalization of $189.96 million, a price-to-earnings ratio of -69.67 and a beta of 1.37. Ceragon Networks has a one year low of $1.85 and a one year high of $3.29.

Ceragon Networks (NASDAQ:CRNT) last announced its earnings results on Tuesday, August 11th. The communications equipment provider reported $0.02 earnings per share (EPS) for the quarter. Ceragon Networks had a negative net margin of 0.95% and a positive return on equity of 2.74%. The company had revenue of $93.91 million during the quarter, compared to analyst estimates of $86.45 million. As a group, equities research analysts expect that Ceragon Networks will post 0.1 EPS for the current year.

Hedge Funds Weigh In On Ceragon Networks

A number of large investors have recently bought and sold shares of the stock. BNP Paribas Financial Markets bought a new stake in Ceragon Networks in the second quarter valued at approximately $26,000. Walleye Capital LLC bought a new position in shares of Ceragon Networks in the fourth quarter worth approximately $27,000. Tamar Securities LLC increased its stake in shares of 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 buying an additional 6,848 shares during the period. HRT Financial LP increased its stake in shares of 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 buying an additional 6,039 shares during the period. Finally, Verition Fund Management LLC bought a new stake in Ceragon Networks during the 4th quarter valued at $64,000. 13.31% of the stock is owned by hedge funds and other institutional investors.

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.