Ceragon Networks (NASDAQ:CRNT) Now Covered by Analysts at Lake Street Capital

Lake Street Capital began coverage on shares of Ceragon Networks (NASDAQ:CRNT) in a report issued on Tuesday, MarketBeat Ratings reports. The brokerage issued a buy rating and a $3.50 price objective on the communications equipment provider’s stock.

CRNT has been the topic of a number of other research reports. Zacks Research lowered Ceragon Networks from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 20th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Ceragon Networks in a report on Friday. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $3.50.

Ceragon Networks Stock Up 7.5%

NASDAQ CRNT opened at $2.16 on Tuesday. The stock has a market capitalization of $192.09 million, a PE ratio of -108.00 and a beta of 1.20. Ceragon Networks has a 12-month low of $1.82 and a 12-month high of $2.84. The company has a 50 day moving average price of $2.27 and a two-hundred day moving average price of $2.26.

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

Institutional Trading of Ceragon Networks

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Aristides Capital LLC lifted its holdings in shares of Ceragon Networks by 4.5% during the fourth quarter. Aristides Capital LLC now owns 141,130 shares of the communications equipment provider’s stock worth $296,000 after buying an additional 6,130 shares during the last quarter. Virtu Financial LLC acquired a new stake in Ceragon Networks in the 4th quarter worth $102,000. XTX Topco Ltd increased its holdings in shares of Ceragon Networks by 328.4% during the 4th quarter. XTX Topco Ltd now owns 230,857 shares of the communications equipment provider’s stock worth $485,000 after purchasing an additional 176,965 shares during the period. Private Advisor Group LLC raised its position in shares of Ceragon Networks by 47.4% during the fourth quarter. Private Advisor Group LLC now owns 1,420,888 shares of the communications equipment provider’s stock valued at $2,984,000 after buying an additional 456,710 shares during the last quarter. Finally, Tamar Securities LLC lifted its stake in shares of Ceragon Networks by 67.3% in the fourth quarter. Tamar Securities LLC now owns 17,016 shares of the communications equipment provider’s stock valued at $36,000 after buying an additional 6,848 shares during the period. Institutional investors and hedge funds own 13.31% of the company’s stock.

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.