Ceragon Networks Ltd. (NASDAQ:CRNT) Receives Average Rating of "Buy" from Analysts

Ceragon Networks Ltd. (NASDAQ:CRNT - Get Free Report) has earned an average recommendation of "Buy" from the five ratings firms that are presently covering the company, Marketbeat Ratings reports. Four research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $6.00.

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

Ceragon Networks Stock Up 7.0%

Shares of NASDAQ CRNT traded up $0.16 during midday trading on Friday, hitting $2.46. The stock had a trading volume of 832,210 shares, compared to its average volume of 1,105,154. The stock has a 50 day simple moving average of $2.28 and a 200-day simple moving average of $3.19. The company has a market capitalization of $218.77 million, a PE ratio of 9.46 and a beta of 1.04. Ceragon Networks has a 1 year low of $1.95 and a 1 year high of $5.73.

Ceragon Networks (NASDAQ:CRNT - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The communications equipment provider reported $0.02 EPS for the quarter, meeting the consensus estimate of $0.02. Ceragon Networks had a return on equity of 19.04% and a net margin of 5.75%. As a group, analysts expect that Ceragon Networks will post 0.26 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ceragon Networks

A number of hedge funds have recently modified their holdings of CRNT. Worth Venture Partners LLC purchased a new position in Ceragon Networks during the first quarter worth about $47,000. Penn Capital Management Company LLC acquired a new stake in shares of Ceragon Networks during the 4th quarter worth approximately $54,000. Commonwealth Equity Services LLC purchased a new stake in shares of Ceragon Networks during the 4th quarter valued at approximately $58,000. State of Wyoming purchased a new stake in shares of Ceragon Networks during the 1st quarter valued at approximately $58,000. Finally, Bravias Capital Group LLC acquired a new position in Ceragon Networks in the fourth quarter valued at approximately $71,000. Hedge funds and other institutional investors own 13.31% of the company's stock.

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.