Ceragon Networks Ltd. (NASDAQ:CRNT) Stock Has Average Price Target of $3.88

Ceragon Networks Ltd. (NASDAQ:CRNT) has been assigned a consensus recommendation of “Moderate Buy” from the six research firms that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $3.88.

A number of research analysts have recently weighed in on CRNT shares. Wall Street Zen upgraded Ceragon Networks from a “buy” rating to a “strong-buy” rating in a report on Saturday. Needham & Company LLC raised their price objective on Ceragon Networks from $3.00 to $3.50 and gave the stock a “buy” rating in a research report on Thursday, November 5th. Zacks Research raised Ceragon Networks from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 27th. Finally, Weiss Ratings downgraded Ceragon Networks from a “sell (d+)” rating to a “sell (d)” rating in a report on Wednesday, August 19th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. R Squared Ltd increased its stake in shares of Ceragon Networks by 10.9% in the third quarter. R Squared Ltd now owns 63,465 shares of the communications equipment provider’s stock worth $131,000 after acquiring an additional 6,256 shares during the last quarter. Seven Mile Advisory acquired a new stake in Ceragon Networks during the third quarter valued at $90,000. Spark Investment Management LLC purchased a new position in Ceragon Networks in the second quarter valued at about $27,000. AXQ Capital LP grew its stake in Ceragon Networks by 66.3% in the second quarter. AXQ Capital LP now owns 48,663 shares of the communications equipment provider’s stock valued at $126,000 after purchasing an additional 19,404 shares in the last quarter. Finally, Renaissance Technologies LLC increased its position in Ceragon Networks by 13.7% in the 1st quarter. Renaissance Technologies LLC now owns 214,500 shares of the communications equipment provider’s stock worth $463,000 after purchasing an additional 25,800 shares during the last quarter. 13.31% of the stock is owned by hedge funds and other institutional investors.

Ceragon Networks Stock Performance

NASDAQ CRNT opened at $2.52 on Wednesday. Ceragon Networks has a twelve month low of $1.85 and a twelve month high of $3.29. The stock has a market cap of $229.04 million, a price-to-earnings ratio of 23.82 and a beta of 1.36. The firm’s 50 day moving average price is $2.10 and its two-hundred day moving average price is $2.32.

Ceragon Networks (NASDAQ:CRNT) last released its earnings results on Thursday, November 5th. The communications equipment provider reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.03. The company had revenue of $95.52 million during the quarter, compared to analyst estimates of $94.40 million. Ceragon Networks had a positive return on equity of 5.32% and a negative net margin of 0.26%. On average, research analysts forecast that Ceragon Networks will post 0.11 EPS for the current fiscal year.

Ceragon Networks Company Profile

Ceragon Networks Ltd. (NASDAQ: CRNT) is a telecommunications equipment and solutions provider headquartered in Israel. The company develops wireless transport systems that help communications service providers connect mobile networks, broadband infrastructure and other distributed sites without relying solely on fiber-optic connections. Its product portfolio includes microwave and millimeter-wave radio systems, packet microwave solutions, antennas, network management software and related services.