Ceragon Networks Ltd. (NASDAQ:CRNT) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Ceragon Networks Ltd. (NASDAQ:CRNT) have been given a consensus rating of “Moderate Buy” by the five ratings firms that are currently covering the firm, MarketBeat reports. Two analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $4.00.

A number of research firms recently commented on CRNT. Needham & Company LLC restated a “buy” rating and issued a $3.00 price objective on shares of Ceragon Networks in a report on Wednesday, November 12th. Zacks Research raised shares of Ceragon Networks from a “strong sell” rating to a “hold” rating in a research report on Monday, October 6th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Ceragon Networks in a report on Monday.

Ceragon Networks Stock Performance

NASDAQ CRNT opened at $2.06 on Friday. The business’s fifty day moving average is $2.26 and its two-hundred day moving average is $2.26. The stock has a market capitalization of $183.20 million, a P/E ratio of 103.05 and a beta of 1.07. Ceragon Networks has a 1 year low of $1.82 and a 1 year high of $5.73.

Ceragon Networks (NASDAQ:CRNT) last issued its quarterly earnings results on Wednesday, November 12th. The communications equipment provider reported $0.02 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.02). Ceragon Networks had a net margin of 0.38% and a return on equity of 6.67%. The firm had revenue of $85.48 million during the quarter, compared to analysts’ expectations of $83.48 million. On average, research analysts forecast that Ceragon Networks will post 0.26 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of CRNT. Axis Wealth Partners LLC bought a new position in shares of Ceragon Networks in the second quarter worth about $26,000. BNP Paribas Financial Markets bought a new position in Ceragon Networks in the 2nd quarter worth approximately $26,000. Jones Financial Companies Lllp lifted its holdings in Ceragon Networks by 283.3% during the 3rd quarter. Jones Financial Companies Lllp now owns 11,500 shares of the communications equipment provider’s stock worth $27,000 after buying an additional 8,500 shares in the last quarter. Bank of Montreal Can bought a new position in Ceragon Networks in the 2nd quarter valued at $35,000. Finally, Worth Venture Partners LLC acquired a new stake in shares of Ceragon Networks in the 1st quarter valued at $47,000. Institutional investors and hedge funds own 13.31% of the company’s stock.

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.