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

Key Points

• Ceragon Networks has an average analyst rating of “Moderate Buy” from six research firms, with four buy ratings, one hold, and one sell. The average 12-month price target is $3.75.
• Several brokerages recently adjusted their views, including Wall Street Zen upgrading the stock to strong-buy and Needham reiterating a buy rating with a $3.00 target. Lake Street Capital also initiated coverage with a buy rating and a $3.50 price target.
• The stock was trading at $2.32, below both its 50-day average of $2.67 and the analyst target range, while the company reported $0.01 EPS and $85 million in quarterly revenue. Institutional ownership stands at 13.31%.

Shares of Ceragon Networks Ltd. (NASDAQ:CRNT - Get Free Report) have received an average rating of "Moderate Buy" from the six research firms that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $3.75.

A number of brokerages have recently commented on CRNT. Wall Street Zen upgraded Ceragon Networks from a "hold" rating to a "strong-buy" rating in a report on Saturday, May 23rd. Needham & Company LLC reiterated a "buy" rating and set a $3.00 price objective on shares of Ceragon Networks in a report on Wednesday, May 20th. Weiss Ratings raised Ceragon Networks from a "sell (d)" rating to a "sell (d+)" rating in a research report on Tuesday, May 26th. Lake Street Capital began coverage on Ceragon Networks in a research report on Tuesday, March 31st. They set a "buy" rating and a $3.50 price target for the company. Finally, Zacks Research raised Ceragon Networks from a "strong sell" rating to a "hold" rating in a research report on Tuesday, April 21st.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. First Wilshire Securities Management Inc. increased its stake in Ceragon Networks by 18.0% in the 1st quarter. First Wilshire Securities Management Inc. now owns 4,854,150 shares of the communications equipment provider's stock valued at $10,485,000 after buying an additional 740,358 shares during the last quarter. CSM Advisors LLC grew its holdings in shares of Ceragon Networks by 10.5% in the 4th quarter. CSM Advisors LLC now owns 2,284,048 shares of the communications equipment provider's stock valued at $4,795,000 after acquiring an additional 216,273 shares in the last quarter. Private Advisor Group LLC grew its holdings in shares of Ceragon Networks by 47.4% in the 4th quarter. Private Advisor Group LLC now owns 1,420,888 shares of the communications equipment provider's stock valued at $2,984,000 after acquiring an additional 456,710 shares in the last quarter. WealthTrust Axiom LLC increased its position in shares of Ceragon Networks by 13.2% in the fourth quarter. WealthTrust Axiom LLC now owns 900,299 shares of the communications equipment provider's stock valued at $1,891,000 after acquiring an additional 104,799 shares during the last quarter. Finally, Qube Research & Technologies Ltd increased its position in shares of Ceragon Networks by 100.4% in the second quarter. Qube Research & Technologies Ltd now owns 580,093 shares of the communications equipment provider's stock valued at $1,427,000 after acquiring an additional 290,695 shares during the last quarter. Institutional investors own 13.31% of the company's stock.

Ceragon Networks Stock Down 0.9%

Ceragon Networks stock opened at $2.32 on Thursday. The company has a 50 day moving average of $2.67 and a 200-day moving average of $2.42. Ceragon Networks has a twelve month low of $1.82 and a twelve month high of $3.29. The stock has a market capitalization of $210.86 million, a PE ratio of -116.00 and a beta of 1.36.

Ceragon Networks (NASDAQ:CRNT - Get Free Report) last posted its quarterly earnings data on Wednesday, April 15th. The communications equipment provider reported $0.01 EPS for the quarter. The business had revenue of $85.00 million for the quarter. Ceragon Networks had a negative net margin of 0.73% and a positive return on equity of 2.27%. Equities analysts anticipate that Ceragon Networks will post 0.12 EPS for the current fiscal year.

Ceragon Networks Company Profile

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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