Analysts Set Ceragon Networks Ltd. (NASDAQ:CRNT) PT at $3.50

Shares of Ceragon Networks Ltd. (NASDAQ:CRNT) have been assigned an average rating of “Hold” from the five brokerages that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $3.50.

A number of equities analysts have weighed in on the company. Weiss Ratings reiterated a “hold (c-)” rating on shares of Ceragon Networks in a research note on Friday, March 27th. Zacks Research lowered Ceragon Networks from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 20th. Finally, Lake Street Capital started coverage on Ceragon Networks in a research report on Tuesday. They set a “buy” rating and a $3.50 price target for the company.

Hedge Funds Weigh In On Ceragon Networks

Institutional investors have recently made changes to their positions in the company. NewEdge Advisors LLC lifted its stake 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 period. First Wilshire Securities Management Inc. grew its position in Ceragon Networks by 23.6% during the second quarter. First Wilshire Securities Management Inc. now owns 4,058,774 shares of the communications equipment provider’s stock valued at $9,985,000 after buying an additional 775,782 shares during the period. Qube Research & Technologies Ltd increased its holdings in Ceragon Networks by 100.4% in the second quarter. Qube Research & Technologies Ltd now owns 580,093 shares of the communications equipment provider’s stock valued at $1,427,000 after buying an additional 290,695 shares in the last quarter. Squarepoint Ops LLC increased its holdings in Ceragon Networks by 642.7% in the second quarter. Squarepoint Ops LLC now owns 552,939 shares of the communications equipment provider’s stock valued at $1,360,000 after buying an additional 478,489 shares in the last quarter. Finally, Bank of America Corp DE raised its position in shares of Ceragon Networks by 31.7% in the second quarter. Bank of America Corp DE now owns 372,961 shares of the communications equipment provider’s stock worth $917,000 after acquiring an additional 89,821 shares during the period. 13.31% of the stock is owned by hedge funds and other institutional investors.

Ceragon Networks Price Performance

NASDAQ:CRNT opened at $2.19 on Tuesday. The firm has a market capitalization of $194.76 million, a P/E ratio of -109.50 and a beta of 1.24. Ceragon Networks has a 1-year low of $1.82 and a 1-year high of $2.84. The company’s fifty day moving average price is $2.27 and its 200-day moving average price is $2.25.

Ceragon Networks (NASDAQ:CRNT) last posted its earnings results on Tuesday, February 17th. The communications equipment provider reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). Ceragon Networks had a negative net margin of 0.62% and a positive return on equity of 3.52%. The business had revenue of $82.33 million for the quarter, compared to analyst estimates of $84.23 million. Equities analysts anticipate that Ceragon Networks will post 0.26 EPS 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.