Ceragon Networks Ltd. (NASDAQ:CRNT) Given Average Rating of “Buy” by Analysts

Ceragon Networks Ltd. (NASDAQ:CRNT) has been given a consensus recommendation of “Buy” by the five ratings firms that are presently covering the company, Marketbeat reports. Four investment analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $6.00.

Several research firms have issued reports on CRNT. Craig Hallum began coverage on shares of Ceragon Networks in a research note on Thursday, March 13th. They issued a “buy” rating and a $5.00 price objective for the company. Needham & Company LLC lowered their target price on Ceragon Networks from $6.00 to $4.50 and set a “buy” rating on the stock in a research note on Wednesday, May 7th. Finally, Wall Street Zen downgraded shares of Ceragon Networks from a “buy” rating to a “hold” rating in a research report on Thursday, May 8th.

Hedge Funds Weigh In On Ceragon Networks

Institutional investors have recently made changes to their positions in the stock. NewEdge Advisors LLC boosted its holdings in shares of Ceragon Networks by 132.2% in the 1st quarter. NewEdge Advisors LLC now owns 106,255 shares of the communications equipment provider’s stock valued at $250,000 after purchasing an additional 60,498 shares during the last quarter. Cubist Systematic Strategies LLC bought a new position in Ceragon Networks during the first quarter worth $983,000. State of Wyoming acquired a new position in Ceragon Networks in the first quarter valued at approximately $58,000. Worth Venture Partners LLC bought a new position in Ceragon Networks during the 1st quarter worth $47,000. Finally, Walleye Capital LLC lifted its position in Ceragon Networks by 22.7% in the 1st quarter. Walleye Capital LLC now owns 346,117 shares of the communications equipment provider’s stock valued at $813,000 after purchasing an additional 64,087 shares during the last quarter. 13.31% of the stock is owned by institutional investors and hedge funds.

Ceragon Networks Stock Down 2.6%

Shares of Ceragon Networks stock opened at $2.27 on Tuesday. Ceragon Networks has a 52-week low of $1.95 and a 52-week high of $5.73. The company has a market capitalization of $201.87 million, a P/E ratio of 8.41 and a beta of 1.04. The company has a 50 day moving average of $2.26 and a 200 day moving average of $3.37.

Ceragon Networks (NASDAQ:CRNT) last announced its quarterly earnings results on Wednesday, May 7th. The communications equipment provider reported $0.02 EPS for the quarter, meeting the consensus estimate of $0.02. Ceragon Networks had a net margin of 6.10% and a return on equity of 21.32%. As a group, research analysts anticipate that Ceragon Networks will post 0.26 earnings per share for the current fiscal year.

About Ceragon Networks

Ceragon Networks Ltd., together with its subsidiaries, provides wireless transport solutions for cellular operators and other wireless service providers in North America, Europe, Africa, the Asia Pacific, the Middle East, India, and Latin America. The company's solutions use microwave and millimeter wave radio technology to transfer telecommunication traffic between base stations, small/distributed cells, and the service provider's network.