Ceragon Networks Ltd. (NASDAQ:CRNT) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Ceragon Networks Ltd. (NASDAQ:CRNT) has been assigned a consensus recommendation of “Moderate Buy” from the six research firms that are covering the company, Marketbeat.com reports. One investment 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 12-month price objective among brokerages that have issued a report on the stock in the last year is $5.50.

CRNT has been the subject of several research reports. Zacks Research upgraded Ceragon Networks from a “strong sell” rating to a “hold” rating in a research note on Monday, October 6th. Needham & Company LLC reiterated a “buy” rating and issued a $3.00 price target on shares of Ceragon Networks in a report on Wednesday, November 12th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Ceragon Networks in a report on Wednesday, October 8th.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. First Eagle Investment Management LLC grew its holdings in shares of Ceragon Networks by 30.9% during the second quarter. First Eagle Investment Management LLC now owns 590,860 shares of the communications equipment provider’s stock valued at $1,454,000 after buying an additional 139,528 shares during the last quarter. Cubist Systematic Strategies LLC bought a new position in Ceragon Networks in the 1st quarter valued at about $983,000. State of Wyoming acquired a new position in Ceragon Networks during the 1st quarter valued at about $58,000. First Wilshire Securities Management Inc. increased its holdings in Ceragon Networks by 11.4% during the 1st quarter. First Wilshire Securities Management Inc. now owns 3,282,992 shares of the communications equipment provider’s stock worth $7,715,000 after purchasing an additional 336,646 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new stake in shares of Ceragon Networks in the first quarter worth approximately $90,000. Institutional investors and hedge funds own 13.31% of the company’s stock.

Ceragon Networks Stock Down 3.8%

NASDAQ:CRNT opened at $2.00 on Tuesday. The firm has a market capitalization of $177.86 million, a P/E ratio of 12.50 and a beta of 1.13. Ceragon Networks has a twelve month low of $1.82 and a twelve month high of $5.73. The company has a fifty day moving average of $2.36 and a 200-day moving average of $2.30.

Ceragon Networks (NASDAQ:CRNT) last posted its quarterly earnings results on Tuesday, November 11th. The communications equipment provider reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.02). Ceragon Networks had a return on equity of 13.71% and a net margin of 3.57%.The company had revenue of $85.48 million during the quarter, compared to analyst estimates of $83.48 million. Ceragon Networks has set its FY 2025 guidance at EPS. On average, analysts anticipate that Ceragon Networks will post 0.26 EPS for the current fiscal year.

Ceragon Networks Company Profile

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.