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

by · The Cerbat Gem

Shares of Ceragon Networks Ltd. (NASDAQ:CRNT – Get Free Report) have been assigned a consensus recommendation of “Moderate Buy” from the five ratings firms that are covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $4.00.

CRNT has been the subject of a number of recent research reports. Needham & Company LLC restated a “buy” rating and issued a $3.00 target price on shares of Ceragon Networks in a research report on Wednesday, November 12th. Weiss Ratings reissued a “hold (c-)” rating on shares of Ceragon Networks in a research note on Monday. Finally, Zacks Research raised shares of Ceragon Networks from a “strong sell” rating to a “hold” rating in a research note on Monday, October 6th.

Check Out Our Latest Analysis on Ceragon Networks

Ceragon Networks Stock Performance

Ceragon Networks stock opened at $2.02 on Friday. 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 cap of $179.64 million, a P/E ratio of 101.05 and a beta of 1.07. The firm’s fifty day moving average price is $2.23 and its 200-day moving average price is $2.25.

Ceragon Networks (NASDAQ:CRNT – Get Free Report) last released its earnings results on Wednesday, November 12th. The communications equipment provider reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.02). Ceragon Networks had a net margin of 0.38% and a return on equity of 6.67%. The firm had revenue of $85.48 million during the quarter, compared to the consensus estimate of $83.48 million. On average, analysts predict that Ceragon Networks will post 0.26 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Independent Advisor Alliance purchased a new position in shares of Ceragon Networks in the first quarter worth about $216,000. Russell Investments Group Ltd. grew its position in Ceragon Networks by 25.7% during the 1st quarter. Russell Investments Group Ltd. now owns 141,589 shares of the communications equipment provider’s stock worth $333,000 after acquiring an additional 28,920 shares during the last quarter. Quantbot Technologies LP purchased a new position in Ceragon Networks in the 1st quarter worth approximately $90,000. First Wilshire Securities Management Inc. lifted its position in Ceragon Networks by 11.4% in the first quarter. First Wilshire Securities Management Inc. now owns 3,282,992 shares of the communications equipment provider’s stock valued at $7,715,000 after purchasing an additional 336,646 shares during the last quarter. Finally, Penn Capital Management Company LLC lifted its position in Ceragon Networks by 859.5% in the first quarter. Penn Capital Management Company LLC now owns 110,617 shares of the communications equipment provider’s stock valued at $260,000 after purchasing an additional 99,088 shares during the last quarter. 13.31% of the stock is owned by institutional investors.

About Ceragon Networks

(Get Free Report)

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.

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