Ceragon Networks (NASDAQ:CRNT) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Ceragon Networks (NASDAQ:CRNT) from a buy rating to a strong-buy rating in a research report sent to investors on Saturday morning,Wall Street Zen reports.

Several other analysts have also issued reports on CRNT. Weiss Ratings lowered shares of Ceragon Networks from a “sell (d+)” rating to a “sell (d)” rating in a research report on Wednesday, August 19th. Needham & Company LLC raised their price objective on shares of Ceragon Networks from $3.00 to $3.50 and gave the stock a “buy” rating in a report on Thursday, November 5th. Finally, Zacks Research raised shares of Ceragon Networks from a “strong sell” rating to a “hold” rating in a report on Thursday, August 27th. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Ceragon Networks currently has a consensus rating of “Moderate Buy” and a consensus price target of $3.88.

Ceragon Networks Stock Performance

CRNT stock opened at $2.62 on Friday. The company has a market capitalization of $238.13 million, a price-to-earnings ratio of 33.33 and a beta of 1.36. Ceragon Networks has a fifty-two week low of $1.85 and a fifty-two week high of $3.29. The stock has a fifty day moving average of $2.09 and a 200-day moving average of $2.32.

Ceragon Networks (NASDAQ:CRNT) last announced its quarterly earnings data on Thursday, November 5th. The communications equipment provider reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.03. The company had revenue of $95.52 million during the quarter, compared to analyst estimates of $94.40 million. Ceragon Networks had a positive return on equity of 2.74% and a negative net margin of 0.95%. Equities analysts predict that Ceragon Networks will post 0.11 EPS for the current year.

Institutional Trading of Ceragon Networks

Institutional investors have recently added to or reduced their stakes in the stock. First Wilshire Securities Management Inc. grew its holdings in Ceragon Networks by 18.0% during the 1st quarter. First Wilshire Securities Management Inc. now owns 4,854,150 shares of the communications equipment provider’s stock valued at $10,485,000 after buying an additional 740,358 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in shares of Ceragon Networks during the first quarter valued at about $911,000. Renaissance Technologies LLC lifted its holdings in shares of Ceragon Networks by 13.7% in the first quarter. Renaissance Technologies LLC now owns 214,500 shares of the communications equipment provider’s stock worth $463,000 after buying an additional 25,800 shares in the last quarter. Aristides Capital LLC lifted its holdings in shares of Ceragon Networks by 15.5% in the first quarter. Aristides Capital LLC now owns 162,963 shares of the communications equipment provider’s stock worth $352,000 after buying an additional 21,833 shares in the last quarter. Finally, R Squared Ltd lifted its holdings in shares of Ceragon Networks by 10.9% in the third quarter. R Squared Ltd now owns 63,465 shares of the communications equipment provider’s stock worth $131,000 after buying an additional 6,256 shares in the last quarter. Hedge funds and other institutional investors own 13.31% of the company’s stock.

Ceragon Networks Company Profile

Ceragon Networks Ltd. (NASDAQ: CRNT) is a telecommunications equipment and solutions provider headquartered in Israel. The company develops wireless transport systems that help communications service providers connect mobile networks, broadband infrastructure and other distributed sites without relying solely on fiber-optic connections.

Its product portfolio includes microwave and millimeter-wave radio systems, packet microwave solutions, antennas, network management software and related services.