Ceragon Networks (NASDAQ:CRNT) Downgraded by StockNews.com to Buy

StockNews.com downgraded shares of Ceragon Networks (NASDAQ:CRNT) from a strong-buy rating to a buy rating in a research note issued to investors on Tuesday.

Separately, Needham & Company LLC reissued a buy rating and issued a $5.25 price objective on shares of Ceragon Networks in a research note on Tuesday, May 7th.

Ceragon Networks Price Performance

NASDAQ CRNT opened at $2.70 on Tuesday. The business has a 50 day simple moving average of $2.91 and a 200 day simple moving average of $2.54. Ceragon Networks has a one year low of $1.56 and a one year high of $3.38. The stock has a market capitalization of $230.63 million, a P/E ratio of 54.01 and a beta of 1.50.

Ceragon Networks (NASDAQ:CRNT) last announced its quarterly earnings data on Tuesday, February 20th. The communications equipment provider reported $0.03 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.01. Ceragon Networks had a return on equity of 10.76% and a net margin of 1.32%. The firm had revenue of $90.36 million during the quarter. During the same period last year, the business posted ($0.01) EPS. Equities analysts expect that Ceragon Networks will post 0.18 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Eagle Wealth Strategies LLC bought a new stake in Ceragon Networks during the first quarter worth $31,000. Worth Venture Partners LLC lifted its holdings in Ceragon Networks by 13.3% during the third quarter. Worth Venture Partners LLC now owns 74,097 shares of the communications equipment provider’s stock worth $152,000 after acquiring an additional 8,700 shares during the period. Lazard Asset Management LLC lifted its holdings in Ceragon Networks by 9,906.9% during the first quarter. Lazard Asset Management LLC now owns 94,765 shares of the communications equipment provider’s stock worth $303,000 after acquiring an additional 93,818 shares during the period. Kennedy Capital Management LLC bought a new stake in Ceragon Networks during the first quarter worth $316,000. Finally, Perritt Capital Management Inc. lifted its holdings in Ceragon Networks by 14.9% during the third quarter. Perritt Capital Management Inc. now owns 204,000 shares of the communications equipment provider’s stock worth $418,000 after acquiring an additional 26,500 shares during the period. Institutional investors own 13.31% of the company’s stock.

Ceragon Networks Company Profile

Ceragon Networks Ltd., together with its subsidiaries, provides wireless transport solutions for cellular operators and other wireless service providers in North America, Europe, Africa, the Asia Pacific, the Middle East, India, and Latin America. The company's solutions use microwave and millimeter wave radio technology to transfer telecommunication traffic between base stations, small/distributed cells, and the service provider's network.