Ceragon Networks (NASDAQ:CRNT) Rating Lowered to “Buy” at Wall Street Zen

by · The Cerbat Gem

Ceragon Networks (NASDAQ:CRNT – Get Free Report) was downgraded by equities researchers at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a note issued to investors on Saturday.

Several other research analysts also recently commented on CRNT. Needham & Company LLC reaffirmed a “buy” rating and issued a $3.00 price target on shares of Ceragon Networks in a research report on Tuesday, August 11th. Weiss Ratings raised shares of Ceragon Networks from a “sell (d)” rating to a “sell (d+)” rating in a research report on Tuesday, May 26th. Zacks Research lowered shares of Ceragon Networks from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 16th. Roth Capital reiterated a “buy” rating and issued a $4.50 target price on shares of Ceragon Networks in a research note on Tuesday, May 19th. Finally, Craig Hallum restated a “buy” rating and issued a $4.00 target price on shares of Ceragon Networks in a research note on Wednesday, May 20th. Four equities research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Ceragon Networks presently has a consensus rating of “Hold” and an average price target of $3.75.

Check Out Our Latest Report on Ceragon Networks

Ceragon Networks Stock Performance

CRNT opened at $2.20 on Friday. Ceragon Networks has a twelve month low of $1.85 and a twelve month high of $3.29. The firm has a market cap of $199.96 million, a P/E ratio of -73.33 and a beta of 1.37. The business has a 50 day moving average price of $2.41 and a 200 day moving average price of $2.42.

Ceragon Networks (NASDAQ:CRNT – Get Free Report) last issued its quarterly earnings data on Tuesday, August 11th. The communications equipment provider reported $0.02 earnings per share for the quarter. Ceragon Networks had a negative net margin of 0.95% and a positive return on equity of 2.74%. The business had revenue of $93.91 million during the quarter, compared to analysts’ expectations of $86.45 million. As a group, analysts anticipate that Ceragon Networks will post 0.1 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ceragon Networks

Institutional investors and hedge funds have recently bought and sold shares of the business. Private Advisor Group LLC bought a new stake in shares of Ceragon Networks during the third quarter valued at approximately $2,247,000. First Wilshire Securities Management Inc. raised its stake in shares of Ceragon Networks by 18.0% during 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 last quarter. Squarepoint Ops LLC lifted its holdings in 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 buying an additional 478,489 shares during the period. Arrowstreet Capital Limited Partnership bought a new position in shares of Ceragon Networks in the 1st quarter worth $911,000. Finally, Qube Research & Technologies Ltd boosted its position in shares of Ceragon Networks by 100.4% in the 2nd quarter. Qube Research & Technologies Ltd now owns 580,093 shares of the communications equipment provider’s stock worth $1,427,000 after purchasing an additional 290,695 shares during the last quarter. Institutional investors and hedge funds own 13.31% of the company’s stock.

Ceragon Networks Company Profile

(Get Free Report)

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.

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