Ceragon Networks Ltd. (NASDAQ:CRNT - Get Free Report) has earned a consensus rating of "Buy" from the five research firms that are presently covering the firm, Marketbeat.com reports. Four equities research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $6.00.
CRNT has been the subject of a number of recent analyst reports. Wall Street Zen lowered shares of Ceragon Networks from a "buy" rating to a "hold" rating in a research report on Thursday, May 8th. Needham & Company LLC decreased 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 report on Wednesday, May 7th.
View Our Latest Report on Ceragon Networks
Institutional Investors Weigh In On Ceragon Networks
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Axis Wealth Partners LLC acquired a new stake in Ceragon Networks in the 2nd quarter valued at about $26,000. NewEdge Advisors LLC lifted its holdings in Ceragon Networks by 132.2% in the 1st quarter. NewEdge Advisors LLC now owns 106,255 shares of the communications equipment provider's stock valued at $250,000 after acquiring an additional 60,498 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new stake in Ceragon Networks in the 1st quarter valued at about $983,000. State of Wyoming acquired a new stake in Ceragon Networks in the 1st quarter valued at about $58,000. Finally, Worth Venture Partners LLC acquired a new stake in Ceragon Networks in the 1st quarter valued at about $47,000. 13.31% of the stock is owned by institutional investors and hedge funds.
Ceragon Networks Trading Down 3.1%
CRNT traded down $0.08 on Wednesday, reaching $2.32. The company had a trading volume of 380,951 shares, compared to its average volume of 1,134,810. The company has a fifty day moving average of $2.40 and a 200-day moving average of $2.95. The company has a market capitalization of $205.87 million, a P/E ratio of 8.94 and a beta of 1.06. Ceragon Networks has a one year low of $1.95 and a one year high of $5.73.
Ceragon Networks (NASDAQ:CRNT - Get Free Report) last announced its earnings results on Wednesday, May 7th. The communications equipment provider reported $0.02 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.02. Ceragon Networks had a net margin of 5.75% and a return on equity of 19.04%. Research analysts predict that Ceragon Networks will post 0.26 EPS for the current year.
Ceragon Networks Company Profile
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Get Free ReportCeragon 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.
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