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

Ceragon Networks Ltd. (NASDAQ:CRNT) has received an average rating of “Hold” from the five research firms that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $4.00.

Several analysts have weighed in on the stock. Zacks Research cut shares of Ceragon Networks from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 20th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Ceragon Networks in a report on Monday, December 29th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $3.00 price target on shares of Ceragon Networks in a research report on Wednesday, November 12th.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. NewEdge Advisors LLC lifted its position in Ceragon Networks by 132.2% during the first quarter. NewEdge Advisors LLC now owns 106,255 shares of the communications equipment provider’s stock worth $250,000 after purchasing an additional 60,498 shares during the period. Almanack Investment Partners LLC. acquired a new position in shares of Ceragon Networks in the 2nd quarter valued at approximately $100,000. R Squared Ltd acquired a new position in shares of Ceragon Networks in the 2nd quarter valued at approximately $97,000. Bank of Montreal Can bought a new stake in shares of Ceragon Networks during the 2nd quarter worth approximately $35,000. Finally, First Eagle Investment Management LLC boosted its position in shares of Ceragon Networks by 30.9% during the 2nd quarter. First Eagle Investment Management LLC now owns 590,860 shares of the communications equipment provider’s stock worth $1,454,000 after acquiring an additional 139,528 shares in the last quarter. Institutional investors own 13.31% of the company’s stock.

Ceragon Networks Price Performance

CRNT opened at $2.30 on Friday. The business has a fifty day simple moving average of $2.14 and a 200 day simple moving average of $2.20. Ceragon Networks has a 1 year low of $1.82 and a 1 year high of $5.52. The company has a market capitalization of $204.54 million, a PE ratio of 115.06 and a beta of 1.07.

Ceragon Networks (NASDAQ:CRNT) last posted its earnings results on Wednesday, November 12th. The communications equipment provider reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.02). The firm had revenue of $85.48 million for the quarter, compared to analyst estimates of $83.48 million. Ceragon Networks had a return on equity of 6.67% and a net margin of 0.38%. Equities analysts anticipate that Ceragon Networks will post 0.26 earnings per share for the current fiscal year.

About Ceragon Networks

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.