Ceragon Networks Ltd. (NASDAQ:CRNT) Receives $6.38 Consensus PT from Brokerages

Shares of Ceragon Networks Ltd. (NASDAQ:CRNT - Get Free Report) have received an average recommendation of "Buy" from the five research firms that are currently covering the firm, MarketBeat Ratings reports. Four analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $6.38.

Several brokerages have issued reports on CRNT. Needham & Company LLC reaffirmed a "buy" rating and issued a $6.00 price objective on shares of Ceragon Networks in a research report on Wednesday, February 12th. Craig Hallum initiated coverage on shares of Ceragon Networks in a report on Thursday, March 13th. They set a "buy" rating and a $5.00 price target for the company. Finally, StockNews.com upgraded shares of Ceragon Networks from a "hold" rating to a "buy" rating in a report on Wednesday, April 9th.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Penn Capital Management Company LLC bought a new stake in shares of Ceragon Networks in the 4th quarter worth about $54,000. Commonwealth Equity Services LLC acquired a new stake in Ceragon Networks during the fourth quarter valued at approximately $58,000. Bravias Capital Group LLC acquired a new stake in Ceragon Networks during the fourth quarter valued at approximately $71,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in shares of Ceragon Networks in the 4th quarter worth approximately $81,000. Finally, Perigon Wealth Management LLC bought a new stake in shares of Ceragon Networks in the 4th quarter valued at approximately $90,000. 13.31% of the stock is currently owned by institutional investors.

Ceragon Networks Stock Down 2.5 %

Shares of NASDAQ CRNT traded down $0.06 on Friday, hitting $2.30. The company had a trading volume of 1,327,351 shares, compared to its average volume of 1,065,124. The firm has a market capitalization of $204.54 million, a P/E ratio of 8.52 and a beta of 1.04. Ceragon Networks has a 12-month low of $1.95 and a 12-month high of $5.73. The business has a 50 day moving average of $2.36 and a two-hundred day moving average of $3.39.

Ceragon Networks Company Profile

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.