Ceragon Networks Ltd. (NASDAQ:CRNT) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Ceragon Networks Ltd. (NASDAQ:CRNT) have been given an average recommendation of “Moderate Buy” by the six research firms that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $3.75.

CRNT has been the subject of several research analyst reports. Weiss Ratings raised Ceragon Networks from a “sell (d)” rating to a “sell (d+)” rating in a research note on Tuesday, May 26th. Craig Hallum reissued a “buy” rating and set a $4.00 price objective on shares of Ceragon Networks in a research note on Wednesday, May 20th. Needham & Company LLC reissued a “buy” rating and set a $3.00 price objective on shares of Ceragon Networks in a research note on Wednesday, May 20th. Wall Street Zen raised Ceragon Networks from a “hold” rating to a “strong-buy” rating in a research note on Saturday, May 23rd. Finally, Roth Mkm reissued a “buy” rating and set a $4.50 price objective on shares of Ceragon Networks in a research note on Tuesday, May 19th.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of CRNT. CSM Advisors LLC purchased a new position in shares of Ceragon Networks in the third quarter worth about $4,819,000. Private Advisor Group LLC purchased a new position in shares of Ceragon Networks in the third quarter worth about $2,247,000. First Wilshire Securities Management Inc. increased its holdings in shares of Ceragon Networks by 18.0% in the first quarter. First Wilshire Securities Management Inc. now owns 4,854,150 shares of the communications equipment provider’s stock worth $10,485,000 after buying an additional 740,358 shares during the period. Squarepoint Ops LLC increased its holdings in shares of Ceragon Networks by 642.7% in the second quarter. Squarepoint Ops LLC now owns 552,939 shares of the communications equipment provider’s stock worth $1,360,000 after buying an additional 478,489 shares during the period. Finally, Arrowstreet Capital Limited Partnership purchased a new position in shares of Ceragon Networks in the first quarter worth about $911,000. Hedge funds and other institutional investors own 13.31% of the company’s stock.

Ceragon Networks Price Performance

Ceragon Networks stock opened at $2.99 on Friday. Ceragon Networks has a one year low of $1.82 and a one year high of $3.29. The business has a fifty day moving average price of $2.62 and a 200-day moving average price of $2.34. The firm has a market capitalization of $271.76 million, a P/E ratio of -149.50 and a beta of 1.35.

Ceragon Networks (NASDAQ:CRNT) last posted its quarterly earnings data on Wednesday, April 15th. The communications equipment provider reported $0.01 earnings per share (EPS) for the quarter. The company had revenue of $85.00 million during the quarter. Ceragon Networks had a positive return on equity of 2.27% and a negative net margin of 0.73%. Sell-side analysts expect that Ceragon Networks will post 0.12 earnings per share for the current fiscal year.

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.