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

Shares of Ceragon Networks Ltd. (NASDAQ:CRNT - Get Free Report) have been given an average recommendation of "Buy" by the five analysts that are covering the firm, MarketBeat reports. Five analysts have rated the stock with a buy recommendation. The average 12 month target price among analysts that have issued a report on the stock in the last year is $5.60.

CRNT has been the subject of a number of recent analyst reports. Roth Capital lowered their price objective on Ceragon Networks from $5.00 to $4.00 and set a "buy" rating for the company in a research report on Friday. Wall Street Zen downgraded Ceragon Networks from a "buy" rating to a "hold" rating in a research report on Thursday, May 8th. Finally, Needham & Company LLC lowered their price target on Ceragon Networks from $6.00 to $4.50 and set a "buy" rating for the company in a research report on Wednesday, May 7th.

Ceragon Networks Price Performance

Shares of CRNT traded down $0.11 during mid-day trading on Wednesday, reaching $2.28. The company's stock had a trading volume of 1,027,221 shares, compared to its average volume of 1,140,761. Ceragon Networks has a 12-month low of $1.95 and a 12-month high of $5.73. The stock has a market cap of $202.76 million, a PE ratio of 8.77 and a beta of 1.06. The company's 50 day moving average is $2.40 and its 200 day moving average is $2.93.

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

Institutional Trading of Ceragon Networks

Hedge funds have recently modified their holdings of the business. Axis Wealth Partners LLC purchased a new stake in shares of Ceragon Networks during the second quarter worth $26,000. Worth Venture Partners LLC acquired a new position in Ceragon Networks during the first quarter worth $47,000. Penn Capital Management Company LLC acquired a new position in Ceragon Networks during the fourth quarter worth $54,000. Commonwealth Equity Services LLC acquired a new position in Ceragon Networks during the fourth quarter worth $58,000. Finally, State of Wyoming acquired a new position in Ceragon Networks during the first quarter worth $58,000. Hedge funds and other institutional investors own 13.31% of the company's stock.

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.