Ceragon Networks’ (CRNT) Buy Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Ceragon Networks (NASDAQ:CRNT) in a research note issued to investors on Wednesday,Benzinga reports. Needham & Company LLC currently has a $3.00 price objective on the communications equipment provider’s stock.

A number of other equities analysts have also issued reports on the stock. Roth Capital dropped their target price on shares of Ceragon Networks from $5.00 to $4.00 and set a “buy” rating on the stock in a research report on Friday, July 18th. Weiss Ratings restated a “sell (d)” rating on shares of Ceragon Networks in a report on Wednesday, October 8th. Finally, Zacks Research raised shares of Ceragon Networks from a “strong sell” rating to a “hold” rating in a research report on Monday, October 6th. Four 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 company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $5.50.

Ceragon Networks Stock Performance

Shares of NASDAQ:CRNT traded down $0.11 during midday trading on Wednesday, hitting $2.15. The company’s stock had a trading volume of 1,110,109 shares, compared to its average volume of 1,158,941. Ceragon Networks has a fifty-two week low of $1.82 and a fifty-two week high of $5.73. The stock has a market capitalization of $190.84 million, a price-to-earnings ratio of 13.41 and a beta of 1.13. The stock’s 50 day simple moving average is $2.36 and its 200 day simple moving average is $2.30.

Ceragon Networks (NASDAQ:CRNT) last released its earnings results on Tuesday, November 11th. The communications equipment provider reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.02). The business had revenue of $85.48 million during the quarter, compared to analyst estimates of $83.48 million. Ceragon Networks had a net margin of 3.57% and a return on equity of 13.71%. Ceragon Networks has set its FY 2025 guidance at EPS. As a group, analysts anticipate that Ceragon Networks will post 0.26 EPS for the current year.

Hedge Funds Weigh In On Ceragon Networks

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. First Eagle Investment Management LLC lifted its stake in Ceragon Networks by 30.9% during the second quarter. First Eagle Investment Management LLC now owns 590,860 shares of the communications equipment provider’s stock worth $1,454,000 after purchasing an additional 139,528 shares during the period. Cubist Systematic Strategies LLC acquired a new position in shares of Ceragon Networks in the 1st quarter worth approximately $983,000. State of Wyoming acquired a new position in shares of Ceragon Networks in the 1st quarter worth approximately $58,000. First Wilshire Securities Management Inc. lifted its position in shares of Ceragon Networks by 11.4% during the 1st quarter. First Wilshire Securities Management Inc. now owns 3,282,992 shares of the communications equipment provider’s stock worth $7,715,000 after buying an additional 336,646 shares during the period. Finally, Quantbot Technologies LP acquired a new stake in Ceragon Networks in the 1st quarter valued at $90,000. 13.31% of the stock is owned by institutional investors.

About Ceragon Networks

Ceragon Networks Ltd., together with its subsidiaries, provides wireless transport solutions for cellular operators and other wireless service providers in North America, Europe, Africa, the Asia Pacific, the Middle East, India, and Latin America. The company's solutions use microwave and millimeter wave radio technology to transfer telecommunication traffic between base stations, small/distributed cells, and the service provider's network.