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

Ceragon Networks (NASDAQ:CRNT) was upgraded by equities research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Thursday,Zacks.com reports.

Several other research firms have also commented on CRNT. Needham & Company LLC reissued a “buy” rating and set a $3.00 price target on shares of Ceragon Networks in a research report on Tuesday, August 11th. Craig Hallum reiterated a “buy” rating and set a $4.00 price objective on shares of Ceragon Networks in a research note on Wednesday, May 20th. Roth Capital reissued a “buy” rating and set a $4.50 target price on shares of Ceragon Networks in a research report on Tuesday, May 19th. Wall Street Zen downgraded shares of Ceragon Networks from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 15th. 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 investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $3.75.

Ceragon Networks Trading Down 2.3%

Shares of NASDAQ:CRNT opened at $2.09 on Thursday. Ceragon Networks has a 12-month low of $1.85 and a 12-month high of $3.29. The business’s fifty day simple moving average is $2.26 and its 200-day simple moving average is $2.40. The company has a market capitalization of $189.96 million, a PE ratio of -69.67 and a beta of 1.37.

Ceragon Networks (NASDAQ:CRNT) last issued its quarterly earnings data on Tuesday, August 11th. The communications equipment provider reported $0.02 earnings per share for the quarter. Ceragon Networks had a positive return on equity of 2.74% and a negative net margin of 0.95%.The company had revenue of $93.91 million for the quarter, compared to the consensus estimate of $86.45 million. Research analysts predict that Ceragon Networks will post 0.1 EPS for the current year.

Hedge Funds Weigh In On Ceragon Networks

Hedge funds and other institutional investors have recently modified their holdings of the stock. BNP Paribas Financial Markets raised its position in shares of Ceragon Networks by 49.1% in the 3rd 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. HRT Financial LP increased its stake in Ceragon Networks by 44.3% during the 4th quarter. HRT Financial LP now owns 19,660 shares of the communications equipment provider’s stock valued at $41,000 after purchasing an additional 6,039 shares in the last quarter. Aristides Capital LLC increased its stake in Ceragon Networks by 4.5% during the 4th quarter. Aristides Capital LLC now owns 141,130 shares of the communications equipment provider’s stock valued at $296,000 after purchasing an additional 6,130 shares in the last quarter. Tamar Securities LLC raised its holdings 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 last quarter. Finally, WINTON GROUP Ltd lifted its stake in shares of Ceragon Networks by 11.2% during the fourth quarter. WINTON GROUP Ltd now owns 97,834 shares of the communications equipment provider’s stock worth $205,000 after buying an additional 9,867 shares during the period. 13.31% of the stock is owned by hedge funds and other institutional investors.

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.