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

Shares of Ceragon Networks Ltd. (NASDAQ:CRNT) have received a consensus recommendation of “Hold” from the five research firms that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $4.00.

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

Institutional Investors Weigh In On Ceragon Networks

A number of institutional investors and hedge funds have recently made changes to their positions in CRNT. BNP Paribas Financial Markets boosted its position in Ceragon Networks by 49.1% during the third quarter. BNP Paribas Financial Markets now owns 15,817 shares of the communications equipment provider’s stock valued at $37,000 after buying an additional 5,211 shares during the period. Jones Financial Companies Lllp raised its stake in Ceragon Networks by 283.3% in the third quarter. Jones Financial Companies Lllp now owns 11,500 shares of the communications equipment provider’s stock worth $27,000 after buying an additional 8,500 shares in the last quarter. Wedbush Securities Inc. grew its stake in Ceragon Networks by 58.4% in the second quarter. Wedbush Securities Inc. now owns 23,664 shares of the communications equipment provider’s stock worth $58,000 after purchasing an additional 8,727 shares during the period. WINTON GROUP Ltd lifted its position in Ceragon Networks by 15.4% during the 3rd quarter. WINTON GROUP Ltd now owns 87,967 shares of the communications equipment provider’s stock valued at $205,000 after acquiring an additional 11,726 shares during the period. Finally, Bank of Montreal Can bought a new stake in Ceragon Networks during the second quarter worth about $35,000. Hedge funds and other institutional investors own 13.31% of the company’s stock.

Ceragon Networks Stock Performance

Shares of CRNT opened at $2.23 on Friday. The stock has a 50 day moving average price of $2.17 and a two-hundred day moving average price of $2.20. Ceragon Networks has a 52 week low of $1.82 and a 52 week high of $5.52. The firm has a market capitalization of $198.31 million, a P/E ratio of 111.56 and a beta of 1.20.

Ceragon Networks (NASDAQ:CRNT) last released its quarterly earnings results on Wednesday, November 12th. The communications equipment provider reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.02). Ceragon Networks had a net margin of 0.38% and a return on equity of 6.67%. The company had revenue of $85.48 million during the quarter, compared to analysts’ expectations of $83.48 million. On average, equities analysts forecast that Ceragon Networks will post 0.26 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.