Ceragon Networks Ltd. (NASDAQ:CRNT) Receives $3.50 Consensus PT from Brokerages

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

CRNT has been the topic of several research analyst reports. Zacks Research upgraded shares of Ceragon Networks from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 21st. Lake Street Capital initiated coverage on shares of Ceragon Networks in a research note on Tuesday, March 31st. They issued a “buy” rating and a $3.50 price target on the stock. Finally, Weiss Ratings cut shares of Ceragon Networks from a “hold (c-)” rating to a “sell (d)” rating in a research note on Monday, April 20th.

Institutional Trading of Ceragon Networks

Several hedge funds have recently bought and sold shares of the stock. CSM Advisors LLC lifted its stake in Ceragon Networks by 10.5% in the 4th quarter. CSM Advisors LLC now owns 2,284,048 shares of the communications equipment provider’s stock worth $4,795,000 after purchasing an additional 216,273 shares in the last quarter. Private Advisor Group LLC lifted its stake in Ceragon Networks by 47.4% in the 4th quarter. Private Advisor Group LLC now owns 1,420,888 shares of the communications equipment provider’s stock worth $2,984,000 after purchasing an additional 456,710 shares in the last quarter. Essex Investment Management Co. LLC lifted its stake in Ceragon Networks by 36.9% in the 3rd quarter. Essex Investment Management Co. LLC now owns 1,418,197 shares of the communications equipment provider’s stock worth $3,304,000 after purchasing an additional 382,058 shares in the last quarter. WealthTrust Axiom LLC lifted its stake in Ceragon Networks by 13.2% in the 4th quarter. WealthTrust Axiom LLC now owns 900,299 shares of the communications equipment provider’s stock worth $1,891,000 after purchasing an additional 104,799 shares in the last quarter. Finally, Qube Research & Technologies Ltd increased its holdings in shares of Ceragon Networks by 100.4% in the 2nd quarter. Qube Research & Technologies Ltd now owns 580,093 shares of the communications equipment provider’s stock worth $1,427,000 after buying an additional 290,695 shares during the last quarter. Hedge funds and other institutional investors own 13.31% of the company’s stock.

Ceragon Networks Stock Performance

CRNT opened at $2.53 on Friday. Ceragon Networks has a fifty-two week low of $1.82 and a fifty-two week high of $2.84. The firm’s fifty day moving average is $2.31 and its 200 day moving average is $2.26. The stock has a market cap of $223.63 million, a price-to-earnings ratio of -126.50 and a beta of 1.24.

Ceragon Networks (NASDAQ:CRNT) last released its earnings results on Tuesday, February 17th. The communications equipment provider reported $0.02 earnings per share 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 firm had revenue of $82.33 million for the quarter, compared to analysts’ expectations of $84.23 million. On average, equities research analysts predict that Ceragon Networks will post 0.15 earnings per share for the current year.

Ceragon Networks Company Profile

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.