Shares of Ceragon Networks Ltd. (NASDAQ:CRNT – Get Free Report) have been given a consensus recommendation of “Moderate Buy” by the six analysts that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $3.75.
CRNT has been the subject of a number of research reports. Wall Street Zen downgraded Ceragon Networks from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 15th. Zacks Research upgraded Ceragon Networks from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 27th. Weiss Ratings downgraded Ceragon Networks from a “sell (d+)” rating to a “sell (d)” rating in a research report on Wednesday, August 19th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $3.00 price target on shares of Ceragon Networks in a research report on Tuesday, August 11th.
Check Out Our Latest Stock Analysis on CRNT
Institutional Trading of Ceragon Networks
Institutional investors have recently made changes to their positions in the business. Spark Investment Management LLC acquired a new position in Ceragon Networks during the second quarter worth $27,000. AXQ Capital LP increased its stake in Ceragon Networks by 66.3% in the 2nd quarter. AXQ Capital LP now owns 48,663 shares of the communications equipment provider’s stock valued at $126,000 after buying an additional 19,404 shares during the last quarter. R Squared Ltd increased its stake in Ceragon Networks by 71.3% in the 1st quarter. R Squared Ltd now owns 55,838 shares of the communications equipment provider’s stock valued at $121,000 after buying an additional 23,234 shares during the last quarter. Aristides Capital LLC lifted its position in Ceragon Networks by 4.5% during the 4th quarter. Aristides Capital LLC now owns 141,130 shares of the communications equipment provider’s stock worth $296,000 after buying an additional 6,130 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its position in Ceragon Networks by 13.7% during the 1st 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. Institutional investors own 13.31% of the company’s stock.
Ceragon Networks Stock Performance
NASDAQ CRNT traded up $0.02 on Friday, reaching $2.04. The company had a trading volume of 493,948 shares, compared to its average volume of 357,457. The company’s fifty day moving average is $2.09 and its 200-day moving average is $2.36. The firm has a market capitalization of $185.42 million, a price-to-earnings ratio of -68.00 and a beta of 1.33. Ceragon Networks has a 1-year low of $1.85 and a 1-year high of $3.29.
Ceragon Networks (NASDAQ:CRNT – Get Free Report) last released its quarterly earnings results on Tuesday, August 11th. The communications equipment provider reported $0.02 earnings per share (EPS) for the quarter. The firm had revenue of $93.91 million for the quarter, compared to the consensus estimate of $86.45 million. Ceragon Networks had a positive return on equity of 2.74% and a negative net margin of 0.95%. On average, research analysts forecast that Ceragon Networks will post 0.10 earnings per share for the current year.
Ceragon Networks Company Profile
Ceragon Networks Ltd. is a telecommunications equipment and solutions provider focused on wireless transport networks. The company develops microwave and millimeter-wave radio systems that enable wireless backhaul, fronthaul and xHaul connections between mobile network sites and core networks. Its solutions are designed to help communications service providers expand network capacity, support 4G and 5G deployments, and connect locations where fiber infrastructure is unavailable or impractical.
Ceragon’s portfolio includes packet microwave and hybrid wireless systems, outdoor and indoor radios, antennas, network management software, and related services.
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