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

Shares of Ceragon Networks Ltd. (NASDAQ:CRNT - Get Free Report) have been assigned an average rating of "Buy" from the five ratings firms that are presently covering the company, Marketbeat Ratings reports. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $6.00.

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

Ceragon Networks Stock Performance

Shares of CRNT traded down $0.04 during midday trading on Friday, hitting $2.25. The company had a trading volume of 679,901 shares, compared to its average volume of 1,108,152. Ceragon Networks has a 1 year low of $1.95 and a 1 year high of $5.73. The firm has a market capitalization of $200.09 million, a P/E ratio of 8.65 and a beta of 1.04. The company's 50-day simple moving average is $2.27 and its 200-day simple moving average is $3.22.

Ceragon Networks (NASDAQ:CRNT - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The communications equipment provider reported $0.02 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.02. Ceragon Networks had a net margin of 5.75% and a return on equity of 19.04%. Equities analysts predict that Ceragon Networks will post 0.26 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Hillsdale Investment Management Inc. boosted its stake in Ceragon Networks by 3.9% in the fourth quarter. Hillsdale Investment Management Inc. now owns 80,800 shares of the communications equipment provider's stock valued at $377,000 after acquiring an additional 3,000 shares in the last quarter. Algert Global LLC lifted its holdings in shares of Ceragon Networks by 32.2% in the 4th quarter. Algert Global LLC now owns 46,454 shares of the communications equipment provider's stock valued at $217,000 after purchasing an additional 11,310 shares during the last quarter. Penn Capital Management Company LLC purchased a new stake in shares of Ceragon Networks in the 4th quarter valued at about $54,000. Commonwealth Equity Services LLC acquired a new stake in shares of Ceragon Networks in the 4th quarter valued at about $58,000. Finally, Sei Investments Co. grew its stake in Ceragon Networks by 21.6% during the 4th quarter. Sei Investments Co. now owns 78,180 shares of the communications equipment provider's stock worth $365,000 after buying an additional 13,909 shares during the last quarter. 13.31% of the stock is owned by hedge funds and other institutional investors.

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.