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

Key Points

• Ceragon Networks Ltd. has received a consensus recommendation of "Buy" from five analysts, indicating positive sentiment towards the stock.
• The average price objective for Ceragon Networks among brokerages is $5.30, although some analysts have adjusted their targets downward.
• Institutional investors have increased their stakes in Ceragon Networks, with Wedbush Securities growing their holding by 58.4% in the second quarter.

Ceragon Networks Ltd. (NASDAQ:CRNT - Get Free Report) has been given an average rating of "Buy" by the five ratings firms that are presently covering the firm, MarketBeat reports. Five investment analysts have rated the stock with a buy recommendation. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $5.30.

Several brokerages have issued reports on CRNT. Needham & Company LLC lowered their target price on shares of Ceragon Networks from $4.50 to $3.00 and set a "buy" rating on the stock in a research note on Wednesday, August 6th. Wall Street Zen lowered shares of Ceragon Networks from a "buy" rating to a "hold" rating in a research report on Thursday, May 8th. Finally, Roth Capital decreased their target price on Ceragon Networks from $5.00 to $4.00 and set a "buy" rating for the company in a report on Friday, July 18th.

Hedge Funds Weigh In On Ceragon Networks

Hedge funds and other institutional investors have recently modified their holdings of the stock. Axis Wealth Partners LLC acquired a new stake in shares of Ceragon Networks in the 2nd quarter valued at $26,000. Penn Capital Management Company LLC bought a new stake in Ceragon Networks during the fourth quarter worth about $54,000. Commonwealth Equity Services LLC bought a new stake in Ceragon Networks during the fourth quarter worth about $58,000. Bank of Montreal Can acquired a new position in Ceragon Networks during the second quarter worth approximately $35,000. Finally, Worth Venture Partners LLC acquired a new position in shares of Ceragon Networks in the first quarter valued at approximately $47,000. Institutional investors own 13.31% of the company's stock.

Ceragon Networks Stock Down 3.7%

Shares of NASDAQ:CRNT traded down $0.08 during trading on Friday, hitting $1.96. 338,859 shares of the stock traded hands, compared to its average volume of 1,337,667. The company has a market cap of $173.86 million, a price-to-earnings ratio of 12.22 and a beta of 1.00. The company has a fifty day moving average price of $2.33 and a two-hundred day moving average price of $2.60. Ceragon Networks has a 52-week low of $1.82 and a 52-week high of $5.73.

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.