Ceragon Networks Ltd. (NASDAQ:CRNT) Given Average Recommendation of "Buy" by Analysts

Shares of Ceragon Networks Ltd. (NASDAQ:CRNT - Get Free Report) have been given a consensus recommendation of "Buy" by the five brokerages that are covering the company, Marketbeat reports. Four research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $6.00.

A number of research firms recently issued reports on CRNT. Needham & Company LLC cut their price target on Ceragon Networks from $6.00 to $4.50 and set a "buy" rating for the company in a report on Wednesday, May 7th. Craig Hallum began coverage on Ceragon Networks in a report on Thursday, March 13th. They issued a "buy" rating and a $5.00 price target for the company. Finally, Wall Street Zen cut Ceragon Networks from a "buy" rating to a "hold" rating in a report on Thursday, May 8th.

Ceragon Networks Stock Performance

Shares of NASDAQ CRNT traded down $0.05 during midday trading on Tuesday, reaching $2.26. 473,313 shares of the company traded hands, compared to its average volume of 1,086,079. The firm has a market cap of $200.98 million, a PE ratio of 8.37 and a beta of 1.04. The stock's 50-day simple moving average is $2.24 and its 200-day simple moving average is $3.36. Ceragon Networks has a 12 month low of $1.95 and a 12 month high of $5.73.

Ceragon Networks (NASDAQ:CRNT - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The communications equipment provider reported $0.02 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.02. Ceragon Networks had a return on equity of 21.32% and a net margin of 6.10%. On average, equities research analysts expect that Ceragon Networks will post 0.26 EPS for the current year.

Institutional Trading of Ceragon Networks

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. First Wilshire Securities Management Inc. increased 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 worth $7,715,000 after purchasing an additional 336,646 shares during the period. Renaissance Technologies LLC grew its position in shares of Ceragon Networks by 47.1% during the 4th quarter. Renaissance Technologies LLC now owns 1,333,295 shares of the communications equipment provider's stock worth $6,226,000 after buying an additional 426,760 shares during the period. Millennium Management LLC grew its position in shares of Ceragon Networks by 123.9% during the 4th quarter. Millennium Management LLC now owns 962,898 shares of the communications equipment provider's stock worth $4,497,000 after buying an additional 532,798 shares during the period. KLCM Advisors Inc. acquired a new position in shares of Ceragon Networks during the 1st quarter worth about $1,871,000. Finally, Marshall Wace LLP grew its position in shares of Ceragon Networks by 598.1% during the 4th quarter. Marshall Wace LLP now owns 703,091 shares of the communications equipment provider's stock worth $3,283,000 after buying an additional 602,383 shares during the period. 13.31% of the stock is currently owned by institutional investors and hedge funds.

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.