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

Key Points

• Ceragon Networks Ltd. has received an average rating of "Buy" from five research firms, with an average 1-year price target of $5.30.
• Institutional investors have increased their stakes in Ceragon Networks, with significant increases from First Wilshire Securities Management Inc. and Millennium Management LLC.
• The stock is currently trading at $1.98 and has a market capitalization of $176.08 million, showing a 12-month price range between $1.82 and $5.73.

Ceragon Networks Ltd. (NASDAQ:CRNT - Get Free Report) has been assigned an average rating of "Buy" from the five research firms that are currently covering the stock, MarketBeat.com reports. Five investment analysts have rated the stock with a buy rating. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $5.30.

CRNT has been the topic of a number of recent research reports. Needham & Company LLC lowered their price target on shares of Ceragon Networks from $4.50 to $3.00 and set a "buy" rating on the stock in a research report on Wednesday, August 6th. Wall Street Zen downgraded shares of Ceragon Networks from a "buy" rating to a "hold" rating in a research note on Thursday, May 8th. Finally, Roth Capital cut their target price on shares of Ceragon Networks from $5.00 to $4.00 and set a "buy" rating on the stock in a research note on Friday, July 18th.

Institutional Investors Weigh In On Ceragon Networks

A number of large investors have recently modified their holdings of the company. First Wilshire Securities Management Inc. increased its position in shares of Ceragon Networks by 23.6% in the 2nd quarter. First Wilshire Securities Management Inc. now owns 4,058,774 shares of the communications equipment provider's stock valued at $9,985,000 after purchasing an additional 775,782 shares during the last quarter. Millennium Management LLC increased its position in shares of Ceragon Networks by 123.9% in the 4th quarter. Millennium Management LLC now owns 962,898 shares of the communications equipment provider's stock valued at $4,497,000 after purchasing an additional 532,798 shares during the last quarter. KLCM Advisors Inc. purchased a new stake in shares of Ceragon Networks in the 1st quarter valued at approximately $1,871,000. First Eagle Investment Management LLC increased its position in shares of Ceragon Networks by 30.9% in the 2nd quarter. First Eagle Investment Management LLC now owns 590,860 shares of the communications equipment provider's stock valued at $1,454,000 after purchasing an additional 139,528 shares during the last quarter. Finally, Qube Research & Technologies Ltd increased its position in shares of Ceragon Networks by 100.4% in the 2nd quarter. Qube Research & Technologies Ltd now owns 580,093 shares of the communications equipment provider's stock valued at $1,427,000 after purchasing an additional 290,695 shares during the last quarter. 13.31% of the stock is owned by hedge funds and other institutional investors.

Ceragon Networks Trading Up 1.5%

CRNT opened at $1.98 on Thursday. The firm has a market capitalization of $176.08 million, a PE ratio of 12.38 and a beta of 1.08. Ceragon Networks has a twelve month low of $1.82 and a twelve month high of $5.73. The firm's 50-day moving average price is $2.21 and its 200 day moving average price is $2.34.

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.

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