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

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

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

Ceragon Networks Trading Down 2.2%

CRNT stock opened at $2.24 on Thursday. The firm has a 50 day moving average of $2.24 and a 200-day moving average of $2.21. The company has a market cap of $199.20 million, a price-to-earnings ratio of -112.00 and a beta of 1.20. Ceragon Networks has a 12-month low of $1.82 and a 12-month high of $3.05.

Ceragon Networks (NASDAQ:CRNT) last released its quarterly earnings data on Tuesday, February 17th. The communications equipment provider reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.01). The firm had revenue of $82.33 million during the quarter, compared to analysts’ expectations of $84.23 million. Ceragon Networks had a negative net margin of 0.62% and a positive return on equity of 3.52%. Sell-side analysts forecast that Ceragon Networks will post 0.26 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ceragon Networks

Several hedge funds have recently bought and sold shares of the stock. BNP Paribas Financial Markets purchased a new stake in shares of Ceragon Networks in the second quarter valued at $26,000. Jones Financial Companies Lllp increased its position 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 purchasing an additional 8,500 shares in the last quarter. Walleye Capital LLC acquired a new position in Ceragon Networks in the 4th quarter valued at about $27,000. Bank of Montreal Can purchased a new position in Ceragon Networks in the 2nd quarter valued at about $35,000. Finally, Tamar Securities LLC boosted its stake in shares of Ceragon Networks by 67.3% during the 4th quarter. Tamar Securities LLC now owns 17,016 shares of the communications equipment provider’s stock worth $36,000 after purchasing an additional 6,848 shares during the last quarter. Hedge funds and other institutional investors own 13.31% of the company’s stock.

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.