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

Shares of Ceragon Networks Ltd. (NASDAQ:CRNT) have earned a consensus rating of “Moderate Buy” from the six ratings firms that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and four have given a buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $3.75.

A number of research analysts have recently commented on CRNT shares. Lake Street Capital initiated coverage on shares of Ceragon Networks in a research report on Tuesday, March 31st. They issued a “buy” rating and a $3.50 price objective for the company. Wall Street Zen raised shares of Ceragon Networks from a “hold” rating to a “strong-buy” rating in a report on Saturday, May 23rd. Weiss Ratings upgraded shares of Ceragon Networks from a “sell (d)” rating to a “sell (d+)” rating in a research note on Tuesday, May 26th. Craig Hallum reiterated a “buy” rating and set a $4.00 price target on shares of Ceragon Networks in a report on Wednesday, May 20th. Finally, Needham & Company LLC reissued a “buy” rating and set a $3.00 price target on shares of Ceragon Networks in a research report on Wednesday, May 20th.

Ceragon Networks Stock Down 0.9%

Shares of Ceragon Networks stock opened at $2.32 on Thursday. The stock has a market cap of $210.86 million, a P/E ratio of -116.00 and a beta of 1.36. Ceragon Networks has a 12-month low of $1.82 and a 12-month high of $3.29. The business’s 50 day moving average is $2.67 and its 200-day moving average is $2.42.

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

Institutional Investors Weigh In On Ceragon Networks

A number of large investors have recently added to or reduced their stakes in CRNT. CSM Advisors LLC acquired a new stake in Ceragon Networks during the 3rd quarter valued at $4,819,000. Private Advisor Group LLC acquired a new position in shares of Ceragon Networks in the third quarter valued at $2,247,000. First Wilshire Securities Management Inc. raised its position 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 valued at $10,485,000 after purchasing an additional 740,358 shares during the period. Squarepoint Ops LLC raised its position 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 valued at $1,360,000 after purchasing an additional 478,489 shares during the period. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in shares of Ceragon Networks during the 1st quarter worth about $911,000. 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.