Brokerages Set Ceragon Networks Ltd. (NASDAQ:CRNT) Target Price at $3.50

Ceragon Networks Ltd. (NASDAQ:CRNT) has earned an average rating of “Hold” from the five analysts that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $3.50.

Several research firms have commented on CRNT. Lake Street Capital began coverage on shares of Ceragon Networks in a research report on Tuesday, March 31st. They issued a “buy” rating and a $3.50 target price for the company. Weiss Ratings reissued a “hold (c-)” rating on shares of Ceragon Networks in a research report on Friday, March 27th. Finally, Zacks Research downgraded shares of Ceragon Networks from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 20th.

Ceragon Networks Stock Up 1.8%

CRNT stock opened at $2.23 on Tuesday. The company has a market capitalization of $198.31 million, a price-to-earnings ratio of -111.50 and a beta of 1.24. Ceragon Networks has a 12 month low of $1.82 and a 12 month high of $2.84. The firm has a 50 day moving average of $2.26 and a two-hundred day moving average of $2.25.

Ceragon Networks (NASDAQ:CRNT) last posted its earnings results on Tuesday, February 17th. The communications equipment provider reported $0.02 EPS for the quarter, missing the consensus estimate of $0.03 by ($0.01). The business had revenue of $82.33 million during the quarter, compared to the consensus estimate of $84.23 million. Ceragon Networks had a positive return on equity of 3.52% and a negative net margin of 0.62%. On average, research analysts expect that Ceragon Networks will post 0.26 EPS for the current fiscal year.

Institutional Trading of Ceragon Networks

Several large investors have recently modified their holdings of CRNT. BNP Paribas Financial Markets bought a new stake in shares of Ceragon Networks during the 2nd quarter worth $26,000. Jones Financial Companies Lllp boosted its holdings in shares of Ceragon Networks by 283.3% during the 3rd 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 during the period. Walleye Capital LLC bought a new stake in shares of Ceragon Networks during the 4th quarter worth $27,000. Tamar Securities LLC boosted its holdings in shares of Ceragon Networks by 67.3% during the 4th quarter. Tamar Securities LLC now owns 17,016 shares of the communications equipment provider’s stock worth $36,000 after buying an additional 6,848 shares during the period. Finally, HRT Financial LP boosted its holdings in shares of Ceragon Networks by 44.3% during the 4th quarter. HRT Financial LP now owns 19,660 shares of the communications equipment provider’s stock worth $41,000 after buying an additional 6,039 shares during the period. 13.31% of the stock is owned by institutional investors.

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.