Ceragon Networks Ltd. (NASDAQ:CRNT) Receives $6.00 Consensus Price Target from Analysts

Shares of Ceragon Networks Ltd. (NASDAQ:CRNT - Get Free Report) have been assigned a consensus recommendation of "Buy" from the five brokerages that are covering the stock, MarketBeat.com reports. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $6.00.

A number of analysts have weighed in on CRNT shares. Wall Street Zen cut shares of Ceragon Networks from a "buy" rating to a "hold" rating in a report on Thursday, May 8th. Craig Hallum started coverage on shares of Ceragon Networks in a report on Thursday, March 13th. They set a "buy" rating and a $5.00 target price on the stock. Finally, Needham & Company LLC dropped their target price on shares of Ceragon Networks from $6.00 to $4.50 and set a "buy" rating on the stock in a report on Wednesday, May 7th.

Ceragon Networks Trading Down 1.9%

NASDAQ:CRNT traded down $0.05 on Tuesday, hitting $2.27. 334,525 shares of the stock were exchanged, compared to its average volume of 1,078,559. The stock has a market cap of $201.43 million, a PE ratio of 8.39 and a beta of 1.04. The stock has a fifty day moving average of $2.25 and a 200-day moving average of $3.35. Ceragon Networks has a fifty-two week low of $1.95 and a fifty-two week high of $5.73.

Ceragon Networks (NASDAQ:CRNT - Get Free Report) last issued its earnings results on Wednesday, May 7th. The communications equipment provider reported $0.02 earnings per share for the quarter, hitting the consensus estimate of $0.02. Ceragon Networks had a return on equity of 21.32% and a net margin of 6.10%. As a group, analysts predict that Ceragon Networks will post 0.26 earnings per share for the current year.

Hedge Funds Weigh In On Ceragon Networks

Institutional investors have recently modified their holdings of the company. Worth Venture Partners LLC bought a new position in Ceragon Networks in the 1st quarter valued at about $47,000. Penn Capital Management Company LLC bought a new position in Ceragon Networks in the 4th quarter valued at about $54,000. Commonwealth Equity Services LLC bought a new position in Ceragon Networks in the 4th quarter valued at about $58,000. State of Wyoming bought a new position in Ceragon Networks in the 1st quarter valued at about $58,000. Finally, Bravias Capital Group LLC bought a new position in Ceragon Networks in the 4th quarter valued at about $71,000. Institutional investors 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.