Ceragon Networks (NASDAQ:CRNT) Releases Earnings Results

Ceragon Networks (NASDAQ:CRNT) released its quarterly earnings results on Tuesday. The communications equipment provider reported $0.02 EPS for the quarter, missing the consensus estimate of $0.03 by ($0.01), FiscalAI reports. Ceragon Networks had a return on equity of 6.67% and a net margin of 0.38%.

Ceragon Networks Price Performance

Ceragon Networks stock opened at $2.26 on Tuesday. Ceragon Networks has a 12 month low of $1.82 and a 12 month high of $3.54. The company has a fifty day moving average price of $2.21 and a two-hundred day moving average price of $2.20. The company has a market cap of $200.98 million, a PE ratio of 113.06 and a beta of 1.19.

Analysts Set New Price Targets

A number of research analysts recently commented on CRNT shares. Needham & Company LLC reissued a “buy” rating and issued a $3.00 price target on shares of Ceragon Networks in a report on Wednesday, November 12th. Zacks Research downgraded shares of Ceragon Networks from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 20th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Ceragon Networks in a report on Monday, December 29th. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $4.00.

Institutional Investors Weigh In On Ceragon Networks

Institutional investors have recently modified their holdings of the business. WINTON GROUP Ltd boosted its stake in Ceragon Networks by 11.2% in the fourth quarter. WINTON GROUP Ltd now owns 97,834 shares of the communications equipment provider’s stock valued at $205,000 after acquiring an additional 9,867 shares during the period. Boothbay Fund Management LLC lifted its holdings in shares of Ceragon Networks by 48.6% in the 3rd quarter. Boothbay Fund Management LLC now owns 199,663 shares of the communications equipment provider’s stock worth $465,000 after purchasing an additional 65,299 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Ceragon Networks by 26.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 234,701 shares of the communications equipment provider’s stock valued at $547,000 after purchasing an additional 49,549 shares during the period. Evergreen Capital Management LLC acquired a new position in Ceragon Networks during the 2nd quarter valued at approximately $187,000. Finally, NewEdge Advisors LLC grew its stake in Ceragon Networks by 132.2% during the 1st quarter. NewEdge Advisors LLC now owns 106,255 shares of the communications equipment provider’s stock worth $250,000 after buying an additional 60,498 shares during the last quarter. 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.