Ceragon Networks' (CRNT) "Sell (D)" Rating Reaffirmed at Weiss Ratings

Key Points

• Ceragon Networks (CRNT) received a "sell (D)" rating reaffirmed by Weiss Ratings, indicating continued negative sentiment among analysts regarding the stock.
• Zacks Research upgraded Ceragon from a "strong sell" to a "hold," while Roth Capital set a price target of $4.00 with a "buy" rating.
• Shares of Ceragon Networks were flat at $2.42, with a market cap of $215.21 million and significant activity among institutional investors acquiring stakes in the company.

Ceragon Networks (NASDAQ:CRNT - Get Free Report)'s stock had its "sell (d)" rating reissued by investment analysts at Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

A number of other brokerages also recently weighed in on CRNT. Zacks Research upgraded Ceragon Networks from a "strong sell" rating to a "hold" rating in a report on Monday. Roth Capital dropped their target price on Ceragon Networks from $5.00 to $4.00 and set a "buy" rating for the company in a research report on Friday, July 18th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $3.00 price target on shares of Ceragon Networks in a report on Thursday, September 18th. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $5.30.

Ceragon Networks Stock Performance

Shares of Ceragon Networks stock remained flat at $2.42 on Wednesday. 451,004 shares of the stock were exchanged, compared to its average volume of 769,304. Ceragon Networks has a 12 month low of $1.82 and a 12 month high of $5.73. The stock has a market cap of $215.21 million, a price-to-earnings ratio of 15.13 and a beta of 1.15. The firm's 50 day simple moving average is $2.14 and its 200 day simple moving average is $2.26.

Hedge Funds Weigh In On Ceragon Networks

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Independent Advisor Alliance acquired a new stake in Ceragon Networks during the first quarter valued at $216,000. Russell Investments Group Ltd. raised its position in Ceragon Networks by 25.7% in the 1st quarter. Russell Investments Group Ltd. now owns 141,589 shares of the communications equipment provider's stock valued at $333,000 after purchasing an additional 28,920 shares in the last quarter. KLCM Advisors Inc. acquired a new stake in Ceragon Networks in the first quarter valued at $1,871,000. Quantbot Technologies LP acquired a new stake in shares of Ceragon Networks during the first quarter worth about $90,000. Finally, First Wilshire Securities Management Inc. increased its holdings in shares of 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 period. Institutional investors and hedge funds own 13.31% of the company's stock.

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.

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