Ceragon Networks (NASDAQ:CRNT) Upgraded by Zacks Research to “Hold” Rating

Zacks Research upgraded shares of Ceragon Networks (NASDAQ:CRNT) from a strong sell rating to a hold rating in a research report sent to investors on Tuesday,Zacks.com reports.

Several other research analysts also recently issued reports on CRNT. Lake Street Capital initiated coverage on shares of Ceragon Networks in a research note on Tuesday, March 31st. They issued a “buy” rating and a $3.50 target price on the stock. Weiss Ratings downgraded shares of Ceragon Networks from a “hold (c-)” rating to a “sell (d)” rating in a research report on Monday. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $3.50.

Ceragon Networks Stock Up 1.6%

Shares of CRNT stock opened at $2.59 on Tuesday. The business has a 50-day moving average price of $2.29 and a two-hundred day moving average price of $2.26. Ceragon Networks has a 12-month low of $1.82 and a 12-month high of $2.84. The firm has a market cap of $228.93 million, a P/E ratio of -129.50 and a beta of 1.24.

Ceragon Networks (NASDAQ:CRNT) last posted its quarterly earnings results on Tuesday, February 17th. The communications equipment provider reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.01). Ceragon Networks had a positive return on equity of 3.52% and a negative net margin of 0.62%.The company had revenue of $82.33 million during the quarter, compared to analysts’ expectations of $84.23 million. As a group, research analysts expect that Ceragon Networks will post 0.15 EPS for the current fiscal year.

Hedge Funds Weigh In On Ceragon Networks

A number of hedge funds have recently bought and sold shares of the business. BNP Paribas Financial Markets boosted its holdings in shares of Ceragon Networks by 49.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 15,817 shares of the communications equipment provider’s stock valued at $37,000 after acquiring an additional 5,211 shares during the last quarter. HRT Financial LP raised its holdings in shares of Ceragon Networks by 44.3% during the fourth quarter. HRT Financial LP now owns 19,660 shares of the communications equipment provider’s stock valued at $41,000 after purchasing an additional 6,039 shares during the last quarter. Aristides Capital LLC raised 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 valued at $296,000 after purchasing an additional 6,130 shares during the last quarter. Tamar Securities LLC lifted its position in Ceragon Networks by 67.3% during the fourth quarter. Tamar Securities LLC now owns 17,016 shares of the communications equipment provider’s stock valued at $36,000 after purchasing an additional 6,848 shares during the period. Finally, Jones Financial Companies Lllp lifted its position in Ceragon Networks by 283.3% during the third quarter. Jones Financial Companies Lllp now owns 11,500 shares of the communications equipment provider’s stock valued at $27,000 after purchasing an additional 8,500 shares during the period. Hedge funds and other institutional investors 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.